All Topics / Creative Investing / GST

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of iginoigino
    Member
    @igino
    Join Date: 2010
    Post Count: 13
    March 12, 2011 - 12:45 pm

    Hi All,

    I currently hold two investment properties and I'm just wondering whether I will be better off or not to register for GST? I'm worried that my sale price later on would not be competitive if I need to allow the GST in my price listing but I like the idea of claiming back all the GST via periodical BAS statement.

    What are the advantages and disadvantages to be GST registered in terms of IP?

    Can we de-register from it just before we sale the property?

    Many thanks.

    Profile photo of IP FreelyIP Freely
    Member
    @ip-freely
    Join Date: 2008
    Post Count: 353
    March 13, 2011 - 1:32 am

    there’s no benefits if you only hold residential property.

    Profile photo of jdufalljdufall
    Participant
    @jdufall
    Join Date: 2010
    Post Count: 24
    March 13, 2011 - 7:20 am

    Hi Igino

    It is my understanding that there is no GST on residential property and that you cannot claim GST for any residential property bills…Therefore there is no need to register for GST…

    Cheers

    John

    Profile photo of iginoigino
    Member
    @igino
    Join Date: 2010
    Post Count: 13
    March 13, 2011 - 11:10 am

    Thanks John, that's interesting. Do you know where I can find literature about this?

    I just bought a property in Tassie and on the offer contract there are option whether I need to pay for GST or not, i.e. if vendor is not registered then I don't have to, which is new to me to find such condition on residential property contract.

    I am thinking to setup up a trust with a company as the trustee to hold all the property. I cant still claim all the repair cost GST that way?

    Profile photo of ALF1ALF1
    Participant
    @alf1
    Join Date: 2011
    Post Count: 237
    March 13, 2011 - 11:29 am

    G'day Igino.
    There is NO GST on residential property. If you have any GST concerns may I suggest you visit the ATO site where you should have most of your questions answered.
    I hope this has been of benefit to you.
    Kind regards,

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    March 13, 2011 - 10:03 pm
    ALF1 wrote:
    G'day Igino.
    There is NO GST on residential property. If you have any GST concerns may I suggest you visit the ATO site where you should have most of your questions answered.
    I hope this has been of benefit to you.
    Kind regards,

    What about new residential property?

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 6 posts - 1 through 6 (of 6 total)

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