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GST and expense clain for concurrent use property

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  • Connor
    Opinionated
    • Oct 2015
    • 191

    #1

    GST and expense clain for concurrent use property

    My plan is to develop the property, and while I'm running the papeworks for this property, I'm renting it out.

    I've claimed GST on the purchase and paid GST for concurrent use adjustment. But what happens after I've developed the property, will my rental income and expenses (fixing gas pipes cost etc) be included in the income-expense calculations?

    Thanks
  • Perry
    Geriatric
    • Sep 2004
    • 16811

    #2
    You don't say if the property / development is all commercial, all residential, or a mix.

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    • Connor
      Opinionated
      • Oct 2015
      • 191

      #3
      All residential.

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