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  • Should I be GST registered if dealing in property?

    23 February 2018

    If the total income from your property development activities is more than $75,000 per year and those activities are regarded as an 'enterprise', you may need to register for GST.

    Your activities may be regarded as an enterprise if, for example, you buy vacant land to subdivide with the intention to sell at a profit, or you develop new residential premises and sell them. Even a one-off property transaction may be an enterprise.

    Property can be:

    • land
    • land and buildings
    • an interest in land, rights over land or licence to occupy land.

    When working out your income (turnover) for GST, you do not include:

    • the sale of a residence that is not new residential premises
    • property sales you make that are private and are not connected to your enterprise (such as your family home)
    • residential rental income.

    How to register for GST

    You can register for GST:

    • online via the Business Portal with either
      • your AUSkey
      • through Manage ABN Connections if you have a myGov account linked to us, Centrelink or Medicare
       
    • by phoning 13 28  66
    • through your registered tax or BAS agent.

    Watch:

    • GST registration and property development

    Media: GST registration and property development
    http://tv.ato.gov.au/ato-tv/media?v=bd1bdiunnj8bs8External Link(Duration: 00:38)

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