The Government has recently introduced legislative amendments (due to the Full Federal Court's decision in FCT v Gloxinia Investments (Trustee)) to impose GST on sale of newly constructed residential premises.
The amendments will ensure that the sale of newly constructed residential premises to home buyers and investors is subject to GST…” (emphasis added) Further details at: http://assistant.treasurer.gov.au/DisplayDocs.aspx?doc=pressreleases/2011/135.htm&pageID=003&min=brs&Year=&Doc The aim of the amendments is to ensure:
This change will have effect on the day the amending Bill receives Royal Assent – presumably in the next few months.
2 Comments
27/6/2012 09:48:59 pm
Your post is really good providing good information.. I liked it and enjoyed reading it. Keep sharing such important posts.
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20/8/2012 11:26:56 pm
off course, the subdivision of existing residential premises does not result in the subdivided premises being new residential premises.
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