Hi
I was wondering if anyone could supply some background info prior to discussing this with my accountant.
Three years ago I inherited some farmland. This farmland has been since leased to a farmer. In chosen to sell this land, and in order to realise the most from it have gained approval to subdivide into rural residential lots. Improvements to the property would be minimal-basically some fencing and the provision of electricity.
I am registered for GST as I carry out a separate business.
Do I need to charge GST in the dale price?
Graeme
I was wondering if anyone could supply some background info prior to discussing this with my accountant.
Three years ago I inherited some farmland. This farmland has been since leased to a farmer. In chosen to sell this land, and in order to realise the most from it have gained approval to subdivide into rural residential lots. Improvements to the property would be minimal-basically some fencing and the provision of electricity.
I am registered for GST as I carry out a separate business.
Do I need to charge GST in the dale price?
Graeme