Input Taxed Sales

These include:

• financial sales

• sales (by lease or hire) of residential premises

• sales of long-term accommodation in commercial residential premises if a choice is made to treat the sale as input taxed

• sales of residential premises (that is, houses, flats and so on), except for commercial residential premises or new residential premises.

• sales of precious metals (gold, silver and platinum of specified levels of fineness sold in an investment form) except those sales which are GST-free, and

• sales of food by school tuckshops and canteens if they choose to treat the sales of food as input taxed and they sell nothing other than food.