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  • Changes to GST on property transactions

    4 May 2018

    From 1 July 2018, if you are purchasing new residential premises or potential residential land subdivisions you will have to pay the GST directly to us as part of the settlement.

    These changes will apply to contracts entered into on or after 1 July 2018.

    The amount of GST hasn't changed, just who is required to pay the GST to us. You now pay the GST directly to us instead of paying it to the developer as part of the purchase price.

    You won't have to register for GST to make this payment to us.

    Property developers will need to give written notification to you when you need to withhold an amount for GST.

    There are no changes to the sales of existing residential properties or the sales of new or existing commercial properties.

    Watch: GST withholding for certain taxable sales of property

    Media: [GST withholding for certain taxable sales of property]
    http://tv.ato.gov.au/ato-tv/media?v=bd1bdiunr9g59cExternal Link (Duration: 00:35)

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