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GST rules on commercial property sale
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? -
Paying GST on purchase if not earning income
We purchased a commercial property a year ago which we intend to build on to increase the revenue.
At present the income is well below the GST threshold of $60K.
When we purchased we set up a Ltd company to buy it with my husband and I being equal shareholders. This meant we... -
To pay GST or not?
This seems to crop up from time to time on here, this GST is a minefield.
My situation: I am having a look with another party at a commercial floor in an office building to refit and subdivide into two apartments (1 for each of us to live in). Most other floors in the building have been... -
Claiming back GST when buying commercial property
Hi All, I have a bit of a confusing (for me) situation.
I have an offer in to buy a commercial property with chattels in order to open a business in a years time. I am GST registered.
The previous owner of the building was running a business from it and recently closed down,...Last edited by Kiwijosephine; 05-10-2009, 07:19 PM.
