Common GST errors and property

Copies of this publication

You can download a printable version of Common GST errors and property (NAT 73112, 356KB) in Portable Document Format (PDF).

About this fact sheet

This fact sheet covers common errors that may occur when you:

• claim credits for purchasing property
• use the margin scheme
• rent new residential premises that you constructed to sell
• sell new residential premises that have only been rented within five years of being constructed
• receive settlement adjustments
• sell a going concern.

Terms we use When we say: GST credits, we mean the GST term input tax credits purchase, we mean the GST term acquisition sell or sale, we mean the GST term supply property, we mean the GST term real property enterprise, we mean the GST term enterprise, which includes a business payment (made or received), we mean the GST term consideration (which includes non-monetary consideration).