obligations and any input tax credit entitlements they may h Assume that New Developments is registered for GST purposes. 25.5 New Developments Pty Ltd (New Developments) is a property investment and development company. Recently, New Developments purchased an old warehouse which it is converting into apartments for sale. New Developments also owns an established apartment building, which it rents out to tenants. In the course of its activities New Developments negotiates many contracts. It engages a bus independent lawyer, Rumpole Richardson, to assist in drafting an negotiating these contracts. Rumpole Richardson has a number clients and turns over $250,000 per year in his legal advisory busines New Developments offered to allow Rumpole Richardson to live in om of its apartments rent-free in exchange for his legal work. Rumpc Richardson agreed to this arrangement. Normally, the rent payable the apartment would be $22,000 per annum. Advise New Developments and Rumpole Richardson of their Developments sold one o les obligations and any input tax credit entitlements they may h Assume that New Developments is registered for GST purposes. 25.5 New Developments Pty Ltd (New Developments) is a property investment and development company. Recently, New Developments purchased an old warehouse which it is converting into apartments for sale. New Developments also owns an established apartment building, which it rents out to tenants. In the course of its activities New Developments negotiates many contracts. It engages a bus independent lawyer, Rumpole Richardson, to assist in drafting an negotiating these contracts. Rumpole Richardson has a number clients and turns over $250,000 per year in his legal advisory busines New Developments offered to allow Rumpole Richardson to live in om of its apartments rent-free in exchange for his legal work. Rumpc Richardson agreed to this arrangement. Normally, the rent payable the apartment would be $22,000 per annum. Advise New Developments and Rumpole Richardson of their Developments sold one o les