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The vendor has realised the error of their ways and contracts were exchanged on Friday afternoon. An unnecessary situation in my opinion. Thank you to everyone for your advise. Much appreciated.

Thanks for the advise - fantastic! The contract is GST inclusive and we have signed our copy and are trying to exchange with the vendor. To me this situation reeks of greed (i.e. the vendor/developer is trying to extract more money from us). If we purchase through individual names then no...

NSW residential land. No boxes ticked on the front page of the contract. No special conditions that would exclude using trusts/company's to purchase the property. Trust is registered for GST Margin scheme? What is this?

Hi all, I am trying to settle on some land that we have agreed to buy however the vendor is now saying that because we are buying via a trust (family trust), we must pay 10% GST on top of the advertised sales price. In the contract it did not stipulate that purchasing via trusts/companies...