If I have properties all under a family trust and the trustee is a simple shelve company. Do i need to register for GST if the total rental I receive is more than $80K? If i register for GST, does that mean when i sell the property, GST must be included in the sale price (which means I lose 10%)
Fortunately, no you don't.
Residential rental income is input taxed and so you don't need to register for GST at any stage, and GST can't be claimed or paid on residential rent or related expenses.
Hope this helps.
Ross
I agree with Ross, you don't need to register for GST unless you are going to get into developing and selling. Standard residential rentals do not attract GST.
Mick
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