Model of a house on a table, with a set of keys in front of it

Sale of property which is GST registered

…(and purchases also)

This is an area that always seems to cause confusion – bottom line, do not sign anything without checking with us first. We will want to see the paperwork and understand your purpose. So an answer over the phone is unlikely.

If you have a property that is currently in the GST net, and you are looking to sell it, the sale should always be “plus GST if any”. This way you are not out of pocket if the purchaser is not GST registered. (Buyers would prefer inclusive GST.)

If the property has a personal use component, there will need to be a valuation to identify the value of that portion (curtilage). Usually, there is no GST accountable on the curtilage, only on the productive land. A sale plus GST if any means that as a vendor you have certainty that you will not be out of pocket.

If you are affected by compulsory land purchase, check with us how that works. Usually, there isn’t GST unless you are registered for GST, and usually, it isn’t taxable. But not always.