Some simple (dumb) questions, which I couldn't find an answer to after doing a search...
A commercial property is sold for $800,000 plus GST = $880,000
1. Is it usual, for the deposit (say of 10%) to be 10% of the $800k or $880k?
2. At settlement, does the purchaser pay to the vendor $880,000 or $800,000 to the vendor and $80,00 to the ATO
3. Is stamp duty calculated on $800k or $880k price?
4. From a finance perspective, does the lender look at the price of $800k or $880k for the purposes of determining serviceability
Thanks....
A commercial property is sold for $800,000 plus GST = $880,000
1. Is it usual, for the deposit (say of 10%) to be 10% of the $800k or $880k?
2. At settlement, does the purchaser pay to the vendor $880,000 or $800,000 to the vendor and $80,00 to the ATO
3. Is stamp duty calculated on $800k or $880k price?
4. From a finance perspective, does the lender look at the price of $800k or $880k for the purposes of determining serviceability
Thanks....