Yeah, I am not sure why
GST on old resendtial unit sale
- Thread starter almostthere
- Start date
Yeah, I am not sure why
Because the vendor wants to cover his **** just in case there is GST - meaning he is not sure.
I just got the confirmation my solicitor that the vendor has finally agreed to delete this special condition with regards to GST..sigh..
Thank you everyone for all your valuable feedback.
Appreciate it !!!
Thank you everyone for all your valuable feedback.
Appreciate it !!!
For a 1970's resi that is owner occupied and its been a home for at least the past 5 years there is no GST issue. The clause is a catch all and just wont apply. Just as a land tax clause shouldn't.
However, I'm not fan of the catch all GST clause as it seems to impose a liability for tax fraud / omission onto a buyer. Let the vendor deal with their own GST issues. If they clearly know and understand their tax liability then they don't need it.
However, I'm not fan of the catch all GST clause as it seems to impose a liability for tax fraud / omission onto a buyer. Let the vendor deal with their own GST issues. If they clearly know and understand their tax liability then they don't need it.
