GST rules on commercial property sale

[CraigD]

We are selling our commercial rental which is owned by our GST registered LTC. When we purchased in 2013 we did not claim GST on the purchase cost. We will most likely be selling to another GST registered buyer. What happens with the GST on this transaction i.e. does anyone need to pay GST?

[Tiggerpup]

Im a graduate valuer, going for registration and so have to prepare for an exam. I need advice on how to treat GST in a hypothetical subdivision, I feel like the spreadsheet must be wrong. But there’s also a chance I’m the one who is wrong.

when doing a hypothetical subdivision, you...

[McDuck]

What was really going on?

Was it just a tax grab?

So annoying.

This argument that we need to standardize and treat everything the same holds no water with me.

Surely some organizations and schemes have a class all of their own -

because...

[sparxNZ]

A GST registered company purchases a residential property operating as a lodge which provides taxable supply accommodation. The sales and purchase agreement is inclusive of GST and not plus GST if any. The sale price is $1M inclusive of GST, the company is noted as GST registered on the S&P....

[steamroller]

Hi team,

I'm looking at buying a section and building a house and would be looking to rent it out as a holiday rental primarily, using it myself for a month or so a year, possibly retiring there eventually.

My thinking is that it would be best to avoid the GST net if possible...

[jack2016]

I'm trying to sign up for a Bunnings and Mitre 10 trade account but get stuck because I don't have a GST number.

Out of curiousity, how much discount do i get if I am a trade customer? ie how much am I missing out?

Any way around not having a GST number?

Thank...

[Crossover]

Can anyone please recommend a specialist who can advise me on GST issues on a property development?

[jack2016]

Hi if you bought a property (no GST) and then rented it out and it turns out you are getting over 60k a year then you need to register for GST ...

What happens when you then sell the property - will you have to pay GST on the profit from the property?

Let's assume it is just...

[jack2016]

Hi I have a few questions that I don't know where to start - could I please list them numerically?

1. Accountant says to use something called "banklink" to link bank account and credit card. Are there any reasons why I shouldn't?

2. I was told by the clerk to use...

[jack2016]

Hi I have been looking at a section and the vendors are a holding company and is GST registered. Naturally they want me to pay the GST.

Now could I ask a few questions about figuring out how much they paid.

If homes.co.nz says the previous purchase price was X amount, assuming...

[JBM]

I'm currently looking at a small shopping center that the vendor wants to sell inclusive of GST - says he's not registered for GST

there are two small shops one tenant fixed term lease pays + GST + outgoings

the other shop pays every two months covers all costs not reg...

[Rosco]

IT'S AMAZING HOW OFTEN THERE IS CONFUSION OVER THESE SIMPLE GST SCENARIOS







SCENARIO 1: You are looking to buy another investment property (PropertyA) that you will use for short term accommodation (e.g. Air BNB, holiday rental). Income will...

[flyernzl]

I own a number of residential rental properties in my own name, most of which I have owned for many years.

I also have one residential property, bought this year, now registered in the name of my company (sole Director and shareholder). I have done this in order to utilse the tax...

[TurnipOrange]

If I rent a property which has a house and land for my business, Say 50% is the house and 50% is the land for my Income. Would the Land part of the Rent have GST I could Claim back?
Thanks for any help

[wfa]

Hi there

I'm just starting out in the commercial world and have a very basic question:

When doing rough calculations to determine yield, do you include or exclude GST? for example if the rent is stated as $70k pa net + GST, would you take the $70k, or $70k + GST as income to...