The family trust is purchasing a mixed residential / warehouse unit in a complex of 10 or so...Izone at Rolleston. Warehouse is 120sqm and residential is 72 sqm. The trust is not registered for GST, and intends to rent both residential and warehouse portions of the property, to separate, but associated entities, under separate rental and lease agreements. There is no requirement (or desire) for the trust to register for GST as supply is < $40k. The plan is to sell the unit once the property market improves, but not for at least 18 months.
so...
1. on a purchase price of $320k, what GST is payable if any ? I figure it cant be more than 120/192 of 12.5% of $320k...
2. if I rent the combined warehouse / residence as accommodation + big garage, is GST payable at all ?
TIA
Steve
so...
1. on a purchase price of $320k, what GST is payable if any ? I figure it cant be more than 120/192 of 12.5% of $320k...
2. if I rent the combined warehouse / residence as accommodation + big garage, is GST payable at all ?
TIA
Steve
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