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Teddy321(Newbie)Newbie
21 Sept 2023

Hi all, I bought an investment property in 2014 under the name of myself and my partner, we used it as a rental property until early this year. We intend to build a new house and move in after the build and demolished the old property. However, due to change of circumustance, we decided not to proceed with the build and want to sale the vacant land now.


We are just ordinary mum & dad investor and do not carry on any business nor GST registerd and just wonder if we need to pay GST on sale of the vacant land now. Is CGT is the only additional tax we need to pay on sale of this vacant land?


Thanks in advane

2,087 views
1 replies
2,087 views
1 replies

Most helpful response

Most helpful reply

AlliATO(Community Support)Community Support
22 Sept 2023

Hi @Teddy321


Where individuals are selling a private/personal capital asset, GST at settlement does not apply.


GST at settlement is about the selling and buying of new residential premises or potential residential land. The seller would be in businesses or in a business-like manner that is registered for GST or required to be registered for GST.


The sale of the land may raise a capital gains event because it has been an investment property and not your normal place of residents. 

All replies

Most helpful reply

AlliATO(Community Support)Community Support
22 Sept 2023

Hi @Teddy321


Where individuals are selling a private/personal capital asset, GST at settlement does not apply.


GST at settlement is about the selling and buying of new residential premises or potential residential land. The seller would be in businesses or in a business-like manner that is registered for GST or required to be registered for GST.


The sale of the land may raise a capital gains event because it has been an investment property and not your normal place of residents. 

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Do I need to pay GST on sale of vacant land | ATO Community