GST & Property: You May Only Get One Chance To Do It Right!

by Peter Flemming

If you are buying or selling property it is important that you consult a professional about any possible GST implications. Because property transactions generally involve large sums of money, any incorrect GST treatment can have a huge detrimental impact, particularly for the vendor.

There is still a deal of confusion regarding GST exemptions particularly in the areas of; Residential Property, Rural Farm Land and Going Concern transactions. Unfortunately not all legal advisers have the necessary knowledge to accurately advise you regarding GST.

We recommend that you always check with our office prior to signing any contracts, particularly those involving rural or commercial property.

If you have any queries please contact- Peter Flemming on direct email peter.flemming@schuhgroup.com.au or 07 3878 8889