No. 17,564

Decision given by Mr Demack (Chairman) on 18 February 2002.

Assessment – Construction of property – University and subsidiary entered into tax planning scheme designed to facilitate deduction of input tax by University on construction costs – Scheme involved exempt grant of 999-year lease by appellant to another non-registered subsidiary at full premium followed by sale of freehold reversion an nominal charge to University – Whether sale of freehold ignored as de minimis – Alternatively, whether the two supplies represented disposal of the building so that the total consideration was apportionable between taxable and exempt supplies.

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