SearchInvesting from Australia
Prue asks:
(updated on Wednesday, February 01st 2012)
Our Experts Answer:
It depends on whether the vendor is registered for GST and whether you, the purchaser will conduct a taxable activity from the property. Remembering that residential rental is exempt from GST. So generally it would need to be a commercial property to be registerable for GST. If the vendor is a property developer they may well look to charge GST on the sale, make sure you negotiate on an "inclusive of GST" basis rater than a plus GST basis. If they are registered and you are registering before settlement date for a taxable activity and the property will not be your residence the sale must be zero rated under the new compulsary zero rating rules. Regards Mark
Most Read
| Unity First Home Buyer special | 4.15 |
| SBS FirstHome Combo | 4.29 |
| ICBC | 4.49 |
| Kainga Ora | 4.59 |
| SBS Bank Special | 4.69 |
| AIA - Go Home Loans | 4.75 |
| China Construction Bank | 4.85 |
| Co-operative Bank - First Home Special | 4.89 |
| Kiwibank Special | 4.95 |
| TSB Special | 4.99 |
| Westpac Special | 4.99 |
| China Construction Bank | 4.95 |
| Kainga Ora | 4.95 |
| ICBC | 4.99 |
| SBS Bank Special | 5.29 |
| Co-operative Bank - First Home Special | 5.29 |
| Kiwibank Special | 5.39 |
| ASB Bank | 5.45 |
| Westpac Special | 5.45 |
| BNZ - Std | 5.45 |
| AIA - Go Home Loans | 5.45 |
| Co-operative Bank - Owner Occ | 5.45 |
| SBS Bank Special | 5.49 |
| BNZ - Std | 5.49 |
| Westpac Special | 5.49 |
| ASB Bank | 5.59 |
| AIA - Go Home Loans | 5.59 |
| ICBC | 5.65 |
| Kiwibank Special | 5.69 |
| Kainga Ora | 5.69 |
| Co-operative Bank - First Home Special | 5.89 |
| Co-operative Bank - Owner Occ | 5.99 |
| TSB Special | 5.99 |
| SBS FirstHome Combo | 3.29 |
| AIA - Back My Build | 3.34 |
| SBS Construction lending for FHB | 3.74 |
| CFML 321 Loans | 4.20 |
| Co-operative Bank - Standard | 5.34 |
| Co-operative Bank - Owner Occ | 5.34 |
| ICBC | 5.39 |
| Kainga Ora | 5.79 |
| Heartland Bank - Online | 5.80 |
| SBS Bank | 5.84 |
| Pepper Money Prime | 5.99 |
