Thanks again Paul for your valuable input - I could easily blunder walking through this minefield - and I'd be unlikely to get a second chance with the ATO.
Based on the comments so far the crux of it seems to be that it is a commercial rental, but because in this case the rent would be below $75k then GST would not be charged on the rental.
However, I read elsewhere that seemed to imply that the $75k test in this case would apply to my personal...
Well the 'not quite' is important, because the rent would be less than $75k. So GST would not be applicable to the transaction.
It's all a bit much for an old lay person!
Thanks again.
Thanks Paul, that's a good explanation.
The place hasn't been leased yet, it's all still early stages. If I've understood it all it appears that I would need to:
1. Get and ABN
2. Add GST to the rent
3. Remit the GST collected to the ATO (I would be providing the 'service', GST would...
Hi Paul, thanks. The distinction between residential and commercial property in this instance isn't clear to me. The business that might rent the house for their offices I believe is a limited liability company. I presume that they would be claiming the rent as a business expense. Would this...
I am intending to rent out a residential house to a business that will use it for their business offices. They will not use the place for anyone to live there.
Do I need to charge GST on the rent and, if so, do I need to register for GST?