Related party transfers can affect GST claims down the track. Example Homer operates a discretionary trust which acquires a property. The trust...
With more and more people looking at creative ways to manufacture equity like subdividing and/or developing, I think the below question is pretty...
I will share a recent client situation to indicate some serious tax issues when buying vacant land Contract is silent on GST but its vacant land....
In 2018 new laws came I which may require purchasers of new residential property to withhold GST when they pay for the property and to remit this...
Homer buys some land from Ned who sold it to him as an input taxed supply – no GST. Price was $400,000 Homer spends $800,000 constructing,...
I'm hoping someone could please provide me some advice on how the margin scheme may be applied in the following EXAMPLE (example used for...
Bob got a second opinion (well actually in this case it probably wouldn't have been positive if it was Bob). Advice from another accountant said...
Igor owns a vacant block of land located in the Mornington Peninsula. The land was purchased in 2009 as an investment property. As Igor...
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Hello, I purchased land off the plan and waiting for the land to be developed prior to settlement. The developer wants to remove the Margin...
Where property is a ‘taxable supply’ GST applies to the sale or transfer. GST is worked out by multiplying the sale price by 1/11th. This mainly...
Apu was concerned as he sold some vacant land and didn't realise he needed to pay GST on the sale. He hadn't put in writing that the margin...
Many budding developers see that GST is payable on their new dev and seek to avoid this by choosing to retain the property for 5 years to rent and...
This might have been covered but I've gone though a heap of threads and can't seem to get the exact info. I'm selling a newly developed house...
Hi All, My accountant it working out my gst bill after the sale of one of our property inside the 5 year gst period (3.5 years in). We are using...
I am about to start my first property development in QLD (though I am based in Sydney) through a company held inside a family trust. Can anyone...
Hello, I'm just trying to get my head around something and check my understanding with the experienced folk here. I'm going to use a hypothetical...
Hi All, I was looking at a sale contract and saw that there were the words, "margin scheme". I understand that this is particularly important...
When undertaking a dev with a intention to sell the GST method for the land you acquire can affect the GST payable at the end which also affects...
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