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Reply: 2.1.1.1.1.1 From: Dale Gatherum-Goss Yes, in fact, I have been approached with some ideas to "use" the system already. Dale

Reply: 2.1.1.1 From: Dale Gatherum-Goss Hi >If the vendor elects to sell >under the margin scheme, this >will reduce the total amount >of GST that will be part of >the final resale price. >But I cannot claim any GST >credits on the construction >costs? Yes and no. The contract price is the...

Reply: 2.1 From: Dale Gatherum-Goss > >And is stamp duty calculated >on the GST inclusive or >exclusive sale price? Hi OK, bear with me as I try to get my head around your question. If you buy a block of land to build your PPOR, there is no GST involved. However, if you sub-divide that...

Reply: 1.1.1.1.1.2.2.1 From: Dale Gatherum-Goss Hi Aaron! A lot will depend upon the exact facts of your circumstances. If you intend to make a habit of doing this then you will have a problem. The extent of the renovations will also determine the status of GST when you sell the house...

Reply: 1.1.1.1.1.2.1.1 From: Dale Gatherum-Goss Hi Rob! No, different departments have different definitions and so your theory won't quite hold. Worth a try though! Dale

Reply: 1.1.1.1.1.2 From: Dale Gatherum-Goss Hi At the risk of causing more confusion than I solve . . . the following jumped out at me: Isolated transactions such as an individual who buys a property with the intention of substantially renovating that property and selling it for a profit...

Reply: 1.1.1 From: Dale Gatherum-Goss Hi Paul! yes, I have been aware of the issues all along, but, when you see some of the examples of the law being applied, it is still quite crazy and frightening of the potential problems for the "little people" who will get hurt later on when the tax...

From: Dale Gatherum-Goss Hi I attended a seminar on Friday about GST, tax and property and all I can say is SHIT! SHIT! SHIT! I thought that I had it all under control, but, it is amazing what you learn sometimes. Please, be very careful with your own situations and seek good advice from...