Factory/warehouse lease required - recommend a solicitor?

Discussion in 'Commercial Property' started by srirang, 21st Jan, 2019.

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  1. srirang

    srirang Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    128
    Location:
    Melbourne
    Hi all,

    We've purchased a factory/warehouse in Melbourne's south east for our SMSF, vacant possession. Can you please recommend a lawyer/solicitor to help us with the lease?

    Property is available for lease, but don't have a tenant yet. A search on the forum didn't help.

    Also, we are registered for GST. So, when we charge rent + outgoings, do we charge GST on the outgoings as well? Or do the outgoings get paid to the respective recipient?

    Thanks
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,103
    Location:
    Sydney or NSW or Australia
    This was one of the first rulings by the ATO on the application of GST - would be GST 2000/10

    Have a read of this (it's about rates but the same applies to water or other GST free supplies).

    In a nutshell, if you (lessor) are invoiced and you need to raise a tax invoice to the tenant. If the tenant pays you the net amount, then you will lose 1/11 of the cost to the ATO.

    If the tenant is invoiced directly for the service, then they don't pay the GST as there is none on the invoice. The tenant can't claim a credit for the gst.

    (I'm neither an accountant nor a solicitor - refer to your own advisers for a better explanation).

    PDF
     
    The Y-man likes this.
  3. srirang

    srirang Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    128
    Location:
    Melbourne
  4. Property Guts

    Property Guts Well-Known Member

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    Australia
    a mate is looking for a commercial property lawyer in Melb too?
     
  5. Scott No Mates

    Scott No Mates Well-Known Member

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    Posts:
    27,103
    Location:
    Sydney or NSW or Australia
  6. Property Guts

    Property Guts Well-Known Member

    Joined:
    16th Jun, 2018
    Posts:
    157
    Location:
    Australia
    be lost without Mates. thanks
     
    Scott No Mates likes this.

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