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  • Supplier notification

    Your supplier is required to provide you with a written notice containing information to help you comply with your withholding obligation if you are acquiring either:

    • residential premises (new or old, not being commercial residential premises such as hotels or motels)
    • potential residential land (and you are not a GST registered entity acquiring the land for a creditable purpose).

    An entity can be the supplier even if another entity is the entity named on the contract or certificate of title.

    The notice from your supplier should include:

    • the name and ABN of the suppliers
    • the amount you must pay to the ATO
    • the date you must pay the withholding amount to us
    • the GST-inclusive market value of that property (but only if the consideration for the supply includes property).

    Note: Most standard land contracts are being updated to include the information required to discharge a supplier's notification obligation.

    The supplier must provide the notice to you on or before the time they make the supply. The supplier can incorporate the notice into the contract, or provide it to you by a separate notice.

    If the required information changes after your supplier has provided the notice to you then they must provide you with a new notice. For example, if there are changes to the contract price by reason of a variation or discount you agree with the supplier that applies prior to settlement.

    Note: If you believe that you may have a withholding obligation, you should raise this with your supplier. Your obligation to pay the withholding amount does not depend on whether the supplier complies with their notice requirements.

    See also:

      Last modified: 07 Aug 2018QC 56253