GST on new residential property

[haroldluntz]

Hi

Just saw a small segment in the AFR today about a Federal Budget measure to now charge GST on new residential properties.

I've bought off the plan and about to settle and would be a major set back to think that I have to add GST to the purchase price when I settle

Does anyone have further info about this?

 

[luckyone]

Surely it won't be backdated so shouldn't affect you? (Just speculating, not sure - I'm stuffed if it is backdated)

 

[luckyone]

Actually, isn't GST already charged on new properties anyway?

http://www.afsd.com.au/article/aip/aip30a.htm - Under the title "The Family Home"