If I buy, say a shop or office, for say 1.1M, would that figure include 100k of GST? Do all commercial property transactions have a GST component? or is there some way people can structure it so that there's no GST?
I also run a business where our net GST bill (after deductions) is over 30k a year - is there some way I can take advantage of this? e.g. if I buy a shop for say 1.1M under the company name, can I use that 100k GST paid as GST credits to last me the next 3+ years? but the downside is now the entire commercial property is in the company name and is at risk in case of unexpected crap. Does public liability insurance (10M) generally pay first, or until your last cent of company equity is gone?
Basically, what's the smartest way to buy, say, a shopfront for investment these days, given I run a business with an ongoing GST bill? I can either buy it under the company, or my personal name, or my SMSF, or set up something like a trust, or new company etc.
I also run a business where our net GST bill (after deductions) is over 30k a year - is there some way I can take advantage of this? e.g. if I buy a shop for say 1.1M under the company name, can I use that 100k GST paid as GST credits to last me the next 3+ years? but the downside is now the entire commercial property is in the company name and is at risk in case of unexpected crap. Does public liability insurance (10M) generally pay first, or until your last cent of company equity is gone?
Basically, what's the smartest way to buy, say, a shopfront for investment these days, given I run a business with an ongoing GST bill? I can either buy it under the company, or my personal name, or my SMSF, or set up something like a trust, or new company etc.