Hi guys,
Just received a $3000 GST refund so those of you in the same situation – may be worth a look.
The ATO has passed a ruling that all non-residents for the period 1st july 2000 to 1st april 2005 did not have to pay GST on anything related to rental properties and selling fees.
Your property agent can give you a refund for GST paid on management fees/any repairs done/ selling fees etc.
Hope this helps some of you.
Mei
very interesting. I could apply for some refunds, but then I would have to add them back into my personal return as I have claimed the GST component as a deduction, so it would be a lot of hassle. thanks for the tip tho and I will add it up to see if it is worth while
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
Hi Ausprop,
This GST refund only applies to non-residents -are you living overseas?
Mei
Dear Meilin08,
Thanks.
I am claiming mine back too.cheers,
Kenneth KOHHi Mei,
yes I was non-resident for many years, but have now resumed Aussie residency. I just need to try and remember what I was doing back then
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
Hi meilin08..,
Would you mind breaking up the 3000 you got back…ie rental commision fees/repair quotes etc,please?
I am situated in Tokyo and had a sale of a townhouse in Maroochydore in March 2005…plus 2IPs during that 1st july 2000 to 1st april 2005 window..my accountant has been looking into it but it would be very helpful to see what others have got..I will post mine next Tuesdayisn’t it going to be an awful lot of hassle? I was just looking at what I could claim back… abit from the lawnmower guy, a bit from the PM, a bit from pest treatment co etc. I could see it being a huge battle with each company chasing it up and then at the end of the day whatever you get back you have to include as taxable income (or reversal of a deduction). I wonder if you could claim the costs of chasing all the money up?
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
Hi Rumin and Ausprop,
Rumin, I will email you with a breakdown.
Ausprop, it was no hassle at all – you don’t have to claim bits and pieces back from the different people/tradesmen. Everything your property manager has organised for you – they can reimburse you the GST that was charged – then the tax office reimburses them.
Hope that helps.
Mei
I see – I suppose it depends how hands on you have been i.e. how much the PM has paid for.
with the add back of the GST into your return, do you have to do an amended return for each year, or would you just throw it in as income in the current year?
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
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