Hi all,
I am trying to settle on some land that we have agreed to buy however the vendor is now saying that because we are buying via a trust (family trust), we must pay 10% GST on top of the advertised sales price.
In the contract it did not stipulate that purchasing via trusts/companies attracts GST on top of the sales price (and was never mentioned during discussions with the agent).
Has anyone else come across this problem?
Thanks
Al
I am trying to settle on some land that we have agreed to buy however the vendor is now saying that because we are buying via a trust (family trust), we must pay 10% GST on top of the advertised sales price.
In the contract it did not stipulate that purchasing via trusts/companies attracts GST on top of the sales price (and was never mentioned during discussions with the agent).
Has anyone else come across this problem?
Thanks
Al