All Topics / Help Needed! / GST on new build?

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  • Profile photo of fxdaemonfxdaemon
    Participant
    @fxdaemon
    Join Date: 2013
    Post Count: 114

    Hi tax experts,

    We built and moved into current PPOR for less than 3 years but due to situation change will need to
    fast track the “down sizing” process and planning to sell up the place and move on.

    My accountant mentions that GST paid for the construction may be refundable. Is this true?

    How about other misc costs that may form part of the cost base, like legal (for checking builder
    contract), architect fees, civil engineerings, town planning, landscape work, arborist report etc
    that have GST component to it?

    Thanks,
    FXD

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    Are you registered or required to be registered for gst and conducting an enterprise?

    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

    Profile photo of fxdaemonfxdaemon
    Participant
    @fxdaemon
    Join Date: 2013
    Post Count: 114

    Are you registered or required to be registered for gst and conducting an enterprise?

    No I am not registered for GST. We didn’t know anything about it at the time when we built and selling
    this soon was not part of the plan to begin with.

    Thanks,
    FXD

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    Consider then if you are required to be registered

    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 4 posts - 1 through 4 (of 4 total)

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