Apr 05, 2007 6:52 pm
We have had our offer accepted for a block of land. Hooray.
The agent has sent the contract to our solicitor.. Let me just say at this point, our solicitor has not had the time to read the contract fully.. None the less, she asked us an interesting question??
Do you have to pay GST on top of the purchase price?
We said, we don't know.
She added that it is not mentioned on the front of the contact (where this sort of thing is normally found according to her), but she said it may be buried in the contract somewhere (which she will read in the next day or so)
I suppose I could just wait until then. None the less, what is normal in this situation.. I mean, i we agree to pay $x for the land, then that is all we pay, right? GST would be the vendors problem.
Re: GST on top of the purchase price of the land???2
Apr 05, 2007 7:01 pm
There should be no GST applicable to purchase of residential property - So unless something very ******* is in your contract...then no, you wont be paying any!
And Congrats on your block!
Built Porter Davis "Dromana" 2007.
Re: GST on top of the purchase price of the land???3
Apr 05, 2007 8:38 pm
With regard to GST, if it is not explicitly and prominently mentioned you do not need to pay it. There is a legal requirement that all prices be quoted inclusive of GST or have explicit and prominent mention of the GST amount.
This website may help: www.accc.gov.au/content/index.phtml/ite ... emId/11746.
If someone gives me a price and we agree on it and then they request an additional amount for GST I would not pay it. I would request that they take me to court if they believe they are owed more. Not only would they lose the court case, but they risk penalties for contravening sections 52 and 53(e) of the Trade Practices Act.
Re: GST on top of the purchase price of the land???4
Apr 05, 2007 10:24 pm
It annoys me that most contractors quote a price and add GST at the end. As if we domestic consumers have a choice in not paying GST!
This is a plot to make their price look cheaper.
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