Hi all,
Hubby and I are looking to purchase a commercial property and would like some advice on when we need to register for ABN and GST in a sole trader capacity in order to recover the GST from the purchase.
We tried doing it online and it came back saying that we are not currently eligible for an ABN as we do not currently have a business in operation.
As we are very keen to recover the gst from the purchase, we would appreciate any assistance in advising us what we need to do. Is the process to apply for ABN and GST after we exchange contracts but before we settle or are we suppose to have it all sorted prior to exchange?
Thanks in advance,
B
Hubby and I are looking to purchase a commercial property and would like some advice on when we need to register for ABN and GST in a sole trader capacity in order to recover the GST from the purchase.
We tried doing it online and it came back saying that we are not currently eligible for an ABN as we do not currently have a business in operation.
As we are very keen to recover the gst from the purchase, we would appreciate any assistance in advising us what we need to do. Is the process to apply for ABN and GST after we exchange contracts but before we settle or are we suppose to have it all sorted prior to exchange?
Thanks in advance,
B