We lived in our principal residence for a few years and decided to demolish the house and rebuild. Meanwhile, we lived with my parents. Now that the house build is complete, we want to sell the property and get something smaller. Do we have to pay GST?
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Hello @bruceprince
GST on property can sometimes be a head-scratcher because it could be that:
- you're in it to make cash and therefore an enterprise? or
- selling your residence and therefore a private sale?
Having a chat with a conveyancer is the way to go, as we can only give general info in this community. Otherwise, you can write in if you need help working out if your sale is an enterprise.
All replies
Hello @bruceprince
GST on property can sometimes be a head-scratcher because it could be that:
- you're in it to make cash and therefore an enterprise? or
- selling your residence and therefore a private sale?
Having a chat with a conveyancer is the way to go, as we can only give general info in this community. Otherwise, you can write in if you need help working out if your sale is an enterprise.
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