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  • Property used in running a business

    If you own, lease or rent property used for business purposes – whether commercial premises like a shop or office, or even your own home – you:

    • must include any rental income in your tax return
    • can claim deductions for some property expenses
    • will be liable for capital gains tax on any capital gain if you sell the property
    • may have GST obligations and entitlements.

    If you're dealing with property, including one-off transactions (for example, you buy, sell, lease or develop), you may be considered to be conducting an enterprise. If your turnover from these activities is more than the GST registration turnover threshold, you may be required to register for GST.

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    Last modified: 10 Jul 2020QC 23646