Does the sale of property attract GST ?

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(Initiate)Initiate

2 Aug 2022

Property is 5.5ha. Have claimed 3.5ha for business use which is not registered for GST. Remaining 2ha is private residence.

A property developer has made an offer for the total 5.5ha where land will be used for residential development. Private residence will remain on 0.5ha.

Does GST need to be included in the sale price of the 5.5ha ( or 5.0ha which excludes private residence ) or can the developer only use the margin scheme ?

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