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  • Buying, selling or developing property?

    5 November 2019

    You're required to register for GST if:

    • your activities are regarded as an enterprise, and
    • turnover from your property transactions (and other transactions) is more than the $75,000 GST registration threshold.

    Your activities may be regarded as an enterprise (even one-off transactions) if you:

    • sell new residential property or potential residential land
    • buy land with the intention of developing it for resale at a profit
    • develop a property to sell.

    When completing your activity statements, remember to include GST in the price you charge for certain property transactions.

    You may also claim credits for the GST included in the price of goods and services you buy for your business.

    Watch:

    • ABN and GST requirements when developing and selling property

    Media: ABN and GST requirements when developing and selling property
    http://tv.ato.gov.au/ato-tv/media?v=bd1bdiunnj8bs8External Link (Duration: 00:30)

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