Derek Nolan is a builder who is registered for GST. Derek recently built a new residential home on a vacant block of land that he had purchased during the 2019-20 tax year. Derek used a number of contractors to help him with the building works who had charged him GST. Shortly after the building works were completed on 10 February 2020, Derek sold the home to Patricia Miles who plans to lease the premises to tenants. Required: Advise Derek and Patricia of the GST implications, supporting your answer by referring to relevant legislation.