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 under your normal names and not a trust or company etc.
Sorry for being so ignorant.
But thank you in advance.
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 under your normal names and not a trust or company etc.
Sorry for being so ignorant.
But thank you in advance.
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