Understanding the Goods and Services Tax (GST) impacts of property-related transactions is now simpler and easier with the use of the internet-based GST property tool launched by the Australia Tax Office (ATO).
The GST property tool helps taxpayers and their tax agents with GST through a series of interactive questions and answers about buying, selling, transferring, leasing, or developing property.
The topics covered within the tool include:
- sale, lease or purchase of real property
- claiming GST credits
- margin scheme eligibility
- GST-free supplies of real property.
To use the free GST property tool visit the ATO website .
