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  • If you are purchasing property

    If you are purchasing a property, ensure you have a written notification advising whether or not you have a withholding obligation on the property.

    Withholding obligation

    If you have a withholding obligation, you must:

    • ensure you have a written notification from the supplier stating if the sale is subject to GST
    • lodge Form one, GST property settlement withholding notification
    • lodge Form two, GST property settlement date confirmation
    • pay the withheld amount to us (to the nearest dollar).

    You don't need to register for GST just because you have a withholding obligation.

    If you're unsure or require further advice regarding the information provided in the supplier's notification, you should seek advice from us or your tax professional.

    You may incur penalties if you fail to lodge the forms and make the payment to us.

    We won’t impose penalties when it's reasonable for you to rely on a notification from a supplier. However, if you know a supplier is registered for GST and they’re selling new residential premises not previously sold, it's unreasonable not to withhold and pay an amount to us at settlement.

    Using a representative

    If you authorise a representative to lodge the forms on your behalf, you are required to provide them with a signed declaration.

    Note: Conveyancers aren't able to provide GST advice unless they're a registered tax or BAS agent.

    If you're acting as the representative for the purchaser, you need to understand what you can or can't do under the Tax Agent Services Act 2009 (TASA).

    See also:

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      Last modified: 22 Oct 2020QC 55431