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Everything You Need to Know About GST and Property Development

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Your Investment Property | 16 Mar 2017, 12:00 AM Agree 0
Property development almost always gives rise to GST implications because of the high dollar value of the transactions involved. Eddie Chung shares the details you need to know before you consider putting spade to soil.
  • James hunt | 03 Oct 2018, 04:42 PM Agree 0
    Eddie. In my case, home of 7 years. I knock down and Build 2 units. I pre sell one to obtain finance. build 2 and live in one . I’m told the conveyancer takes out the gst at settlement . As I’m not registered for gst can I claim the gst taken at settlement back from the government at some point? Or is it taken never to be given back ? I’m not a business or developer just a citizen . So I can’t claim any ongoing tax outputs agains the tax taken at settlement ?
    Everyone is so vague on this hope you can help
  • Paul | 16 Oct 2018, 07:54 PM Agree 0
    Gday Eddie

    May I suggest you review the 5 yr limit you gave placed on new residential development rented. You’ll find that this limit is excessive and that there is NO set limit by the ATO rather a set criteria and circumstances. Certain case law states 14 months plus would be a more suitable timeline by saga in, need to meet a list of criteria.
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