Hi I am a new to property Investing and I would like some help on the GST. If I were to buy a house and sell it and say make $20,000 profit on it , and do that 3 times a year would this be classed as a business.
And as I have made more than the $50,000 gst threshold,would l now have to pay gst on on the sale price of any other propertys sold. None of the property's would be new buliding's.
eg sell for $200,000 + 20,000 gst.
Thanks for any help on this.
And as I have made more than the $50,000 gst threshold,would l now have to pay gst on on the sale price of any other propertys sold. None of the property's would be new buliding's.
eg sell for $200,000 + 20,000 gst.
Thanks for any help on this.