The purpose of this paper is to discuss the variety of GST treatments surrounding property transactions. The impact of the GST on a particular property transaction is affected by a number of factors, including : whether the purchaser and vendor are or are required to be registered; whether the transaction is of a residential or commercial nature; whether the property is a freehold interest or is part of a going concern; whether the margin scheme is employed; and whether the transitional rules apply to part or all of the transaction. The paper gives a brief discussion of the basic GST concepts, then examines the effects of these and other relevant factors on the taxable nature of various property related transactions.
Miscellaneous
1999
GST and property
Source: New South Wales
Published Date: 10 Aug 1999
Details
- Published By: Tiffany Spooner, Simon Clark CTA
- Published On:10 Aug 1999
- Event Name:Goods & Services Tax: Session 4
- Session Name:GST and property
- Read Time:30+ minutes
- Took place at:Menzies Hotel
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Tags
Miscellaneous
1999
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