- fernfurnMember@fernfurnJoin Date: 2005Post Count: 139
I have just sold a townhouse I built as owner-buillder, having paid gst on everything i bought to build it. I know I have to pay gst on agents commission (a service) but do I have to pay gst on the sale price as it is my ppr and I have lived in it for 18mths
FernRichard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
On the basis that you owned and occupied the property as your Principal place of residence then you will not be required to pay GST on the sale as it will not be classified as a new home but a second hand dwelling.
Had you built the house as an investment then the answer would be Yes. You would however probably applied the Margin Scheme and claimed all of your GST credits along the way.