GST Query

Discussion in 'Accounting and Tax' started by mrsdawnrazor, 5th Aug, 2007.

  1. mrsdawnrazor

    mrsdawnrazor Member

    Joined:
    22nd Jun, 2007
    Messages:
    413
    Location:
    Australia
    I have an ABN for as a sole trader for lecturing fees. I also used this abn when claiming back GST on an agricultural investment. My query is can I use this same abn and GST registration to claim back the GST on all fees I pay in relation to my investment properties. Not sure where I stand as I was OK with the other investment
    Cheers
     
  2. Ausprop

    Ausprop Member

    Joined:
    20th Jun, 2004
    Messages:
    10,497
    Media:
    7
    Location:
    PERTH, WA
    are you an active developer/trader or a passive investor? This is pretty much the key difference. If it is the later then your sales are input taxed and hence you cannot claim input tax credits. If it is the former you can claim GST, will have to pay GST and potentially take benefit from the margin scheme provisions