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  • Property and registering for GST

    Generally, you won't be required to register for GST if:

    • your property transactions are for private use, such as constructing or selling your family home
    • you only receive residential rent from your property.

    You may be required to register for GST, even if you are not a business, if:

    • the turnover from your property transactions and other taxable transactions is more than the GST registration threshold
    • your activities are regarded as an 'enterprise', for example – if you buy land with the intention of developing it for resale at a profit. Even a one-off property transaction may be considered an enterprise.

    If you're required to register for GST you need an Australian business number (ABN).

    Watch:

    Media: ABN and GST requirements when developing and selling property
    http://tv.ato.gov.au/ato-tv/media?v=bd1bdiunnj8bs8External Link Duration: 00:38)

    Next steps:

    See also:

    Calculating GST turnover

    When calculating your GST turnover for registration purposes, don't include:

    • the sale of existing residential property
    • sales for no payment that aren't taxable (unless made to an associate)
    • other property sales that are private and not connected to your enterprise, such as your family home
    • residential rental income.

    See also:

    Registering for GST

    If you need to register for GST, you need an Australian business number (ABN). When you apply for an ABN you can register for GST at the same time.

    Once you have an ABN and are registered for GST:

    • You must include GST in the price you charge for taxable supplies (sales) of goods and services, including certain property transactions.
    • You may be eligible to claim credits for GST included in the price of goods and services you buy for your business.

    See also:

    If you don’t register for GST

    If you don't register for GST when required, you may have to pay GST on sales made since the date you became required to register. This is the case even if you didn't include GST in the price of those sales.

    Penalties and interest may also apply.

    Find out about:

    Cancelling GST registration

    If you don’t need your GST registration for any other purpose, you can cancel it.

    Remember to claim all GST credits you're entitled to before lodging your final activity statement.

    See also:

      Last modified: 16 Nov 2020QC 21960