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Property used in running a business

Work out your GST, capital gains tax, and tax return obligations when you own property used for business purposes.

Last updated 20 June 2021

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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Find out about:

Make sure to keep records when you buy commercial property to claim deductions and GST credits for some costs.

Work out your capital gains tax (CGT) when selling a commercial property.

If you lease premises you may be liable for GST, and entitled to GST credits, check what to include in your tax return.

Tax implications for rent deferrals or waivers of commercial leases, including bankruptcy or insolvency variations.

If you own a working farm, find out how capital gains tax (CGT) and goods and services tax (GST) applies.

Commercial residential premises you lease, buy and sell are taxable under GST.

Under certain conditions, the supply of accommodation in a retirement village is GST-free.