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ARTICLE · 28 FEBRUARY 2018

GST withholding on new residential premises

Corrs Chambers Westgarth
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Bill requires purchasers of new residential property to withhold GST on the purchase price and pay that amount to ATO.

AustraliaTax
Mark Payne
Mark Payne
Rhys Jewell
Rhys Jewell
Heran Kim
Heran Kim
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Treasury Laws Amendment (2018 Measures No. 1) Bill 2018 (the Bill) was introduced to Parliament on 7 February 2018. When enacted, it will change the GST law to require purchasers of new residential property to withhold GST on the purchase price and pay that amount to the ATO. The Bill has made a number of significant changes from exposure draft legislation released for comment in late 2017.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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