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]Hi again,
Have exchanged contracts on a residential property being used resadentially amongst other resi homes but zoned commercially, am paying GST on purchase price.
Question: Can I claim GST back using my ABN No as I have a buisness and am a sole trader ther for I can put the purchase down as a buisiness investment or purchase for ferthere expansion, call it what ever will give me the advantage.Have checked with my accountant and they say I should not even be paying GST as I am purchasing and they are selling as ressidential property being used as residencial property.??????
If your an accountant that can give me a solid answer then you may find your self a new client.Hi Glauco,
Even though i am not an accountant, i have the same issue in Sydney. I have 2 blocks of land next to each other with my business running from it. It is dual zoned.
As far as I know, it is up to the solicitor who is preparing the contract for the vendor to state if the property is GST liable or not.
But it doesnt really matter anyway, because you’ll get it all back.
But you should question the vendors solicitor.Sorry cant help you anymore
Good Luck[]
]Hi again,
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