FAQ 28 Where can I find out about GST when it relates to property
The following ATO website pages have a vast amount of information
NOTE that these links may become unavailable due to the ATO moving items around.
Drill down on the topics listed on the left of the ATO website screen
http://www.ato.gov.au/General/Property/In-detail/GST/GST-and-property/?default=&page=1
There is also a calculator provided on the ATO website:-
GST Property Tool CLICK HERE
Here is a booklet written by an accountant
http://www.bantacs.com.au/booklets/How_Not_To_Be_A_Developer_Booklet.pdf
In addition we have provided a section from the ATO website on how the margin scheme works.
in General if you are purchasing from a non GST registered seller then use the margin scheme. If you are purchasing from a GST registered seller then it does not matter whether you use the margin scheme or not.
The following chart has kindly been provided courtesy of John Bone – many thanks John!
You may wish to have this chart printed and laminated locally – suggested size A1
Alternatively right click the link then SAVE AS. Open the saved pdf and magnify in Adobe PDF reader.
Michael & Sara
Ultimate Coaches
The information supplied is general only and not intended to replace professional advice.
An investment in knowledge pays the best interest. Benjamin Franklin
