14 January 2016
In some cases, you can pay less GST on the sale of a property by applying a tax concession known as the margin scheme.
Under the margin scheme, the GST is calculated on the margin of the sale, rather than the total sale proceeds. The margin is the generally the difference between the sale price and your purchase price of the property (or the property’s value on 1 July 2000 if it was acquired before that date).
Our GST property tool can help you work out how much GST you’ll have to pay on your property sales. This tool can be used for the sale, lease or purchase of real property (including vacant land, residential and commercial premises).
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