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These notes are intended to be a guide only. None of the comments contained in these seminar notes are intended to be advice, whether legal, financial or professional. You should not act solely on the basis of the information contained in these notes because many aspects of the material have been generalised and the tax laws apply differently to different people in different circumstances. Further, as tax and related laws change frequently, there may have been changes to the law since the notes were written. Specific advice should always be obtained from a tax professional.
Price
$30.80
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Article
Pages
14
Notes Online Home 2020 Tax and Property Key GST issues for property
Common GST issues with property transactions
In this segment of the seminar notes we highlight the common GST issues with property transactions. In more detail:
• Errors with contract wording can prove expensive
• Why leasing a residential property for five years will not always avoid GST on sale
• When is a property developer required to pay back the ITCs they have claimed?
• Where privately held property is subdivided/developed
• What happens when commercial property passes to an executor or beneficiary of a deceased estate?
• Why acquiring property under the going concern exemption can be dangerous for purchasers