• GST property decision tool

    Getting started

    The GST property decision toolThis link opens in a new window is designed to assist you to determine the GST implications for your property-related transactions. The tool includes:

    • a series of questions to help you determine the GST classification of real property transactions
    • help that provides guidance and explanations to work through the tool
    • links throughout to navigate to additional information
    • provision of a GST decision of how GST applies to your property transaction.

    You must complete the questions in one session. You cannot save your responses to be completed at a later time.

    Note: We don't record any of your personal information and you will remain anonymous.

    Information you need

    The information you need to use the tool includes:

    • the date you acquired the property and the date of sale (settlement date)
    • the amount you paid to acquire the property or valuation details (and selling price)
    • information relating to past transactions of your property and if or how GST was applied, even where you were not a party to a past transaction, for example deceased estates and GST groups.

    GST decision that will be generated

    A GST decision will be generated that contains:

    • a decision that advises you whether GST is payable on the sale
    • an estimate of the amount of GST payable when applying the margin scheme.
    • a decision that advises whether you are eligible to claim input tax credits

    What the tool does not address

    The GST property tool does not address:

    • retirement villages
    • partitioning of land
    • amalgamated land
    • easements, restrictive covenants and options
    • mixed supply
    • dual purpose (you intend to rent a property while trying to sell it by actively marketing it for sale)
    • grants of land by governments
    • body corporate issues
    • failure to pay full consideration (GST Groups)
    • adjustments relating to bad debts
    • development lease arrangements
    • calculating adjustments for changes in creditable purpose (for example new residential property that was intended for sale being leased to tenants- which is an input taxed supply).

    Note: The application of GST to property related transactions can be complex, your registered tax or BAS agent can also provide advice on the GST treatment for any property transactions you make.

    Next step:

    Public and private advice and guidance

    We offer a range of products to help you understand how the law applies to you. This includes public and private advice and guidance.

    Public advice and guidance applies to a range of situations. If you can't find public advice to cover your situation, you can ask us for private advice that explains how the law applies to your particular circumstances.

    Private rulings

    A private ruling is binding advice that sets out how a tax law applies to you in relation to a specific scheme or circumstance.

    If you would like to discuss your issue with us prior to applying, you can submit an early engagement (for advice) request.

    Disclaimer

    All outcomes provided by this tool are based on the information you provide at the time of the decision. You should use the outcomes as an estimate and for guidance purposes only.

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    See also:

    Last modified: 03 Oct 2017QC 25064