Hi
I have had a search and read a few threads but cant find a specific answer here (partly due to GST and property being what they are).
Im currently looking at purchasing a townhouse, 1 of 3 that was built approx 3 years ago. Its currently tenanted, but has only been so for 8 months total.
The only clause relating to GST in the contract is:
(This contract does not deal with GST, and the parties should take professional advice before signing.)
But from what i have read, the house counts as a new build and hasnt been tenanted for 5 years which makes GST a factor?
Does this mean that after all offers are accepted, i could find myself with an unexpected GST charge popping up?
At what point is GST calculated and the actual cost communicated to both parties on a house purchase?
Is there anyway to get this info/amount from the REA prior to putting in an offer?
I have had a search and read a few threads but cant find a specific answer here (partly due to GST and property being what they are).
Im currently looking at purchasing a townhouse, 1 of 3 that was built approx 3 years ago. Its currently tenanted, but has only been so for 8 months total.
The only clause relating to GST in the contract is:
(This contract does not deal with GST, and the parties should take professional advice before signing.)
But from what i have read, the house counts as a new build and hasnt been tenanted for 5 years which makes GST a factor?
Does this mean that after all offers are accepted, i could find myself with an unexpected GST charge popping up?
At what point is GST calculated and the actual cost communicated to both parties on a house purchase?
Is there anyway to get this info/amount from the REA prior to putting in an offer?