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Correct. And I understand there is then the issue of more entities to audit, which is why it may only be worthwhile if he/she already has a business. Also, it seems that Paul is suggesting you won't be able to re claim the GST back, which means on a $500,000 property you will have to finance...

From my understanding, you will pay GST on top of the price if it is currently vacant. If it is tenanted, GST will not be applicable. If you pay GST, you may get it back but also remember that your stamp duty will be based on the GST INCLUSIVE price. So if you're paying $200,000 + GST then...