The introduction of the GST in 2000 brought with it changes to the way in which many transactions, especially the sale of land and businesses, were handled. The claims LPLC sees usually occur in relation to the sale of commercial or new residential land or the sale of businesses.
Practitioners are often engaged by a client to ‘do the conveyancing’ associated with the sale or purchase of real property. Typically, they are not specifically instructed to provide taxation or stamp duty advice, but there is usually no transaction relating to real property that doesn’t have taxation or duty implications
Goods and Services Tax (GST) is a 10% value added tax payable on supplies of most goods and services.
The claims scenarios LPLC sees in relation to small business often arise from exuberant purchasers who have just signed up to buy their own business, full of hope and enthusiasm. They cannot wait to get into the business, want settlement in just a few days, and only need the practitioner to check the contract and make sure there are no major problems. The information in this LPLC Practice Risk Guide guide is designed to help practitioners recognise the trouble areas and manage clients in a way that best protects the client’s interests and their own position.
Have a client-related question about GST? LPLC's dedicated GST advice service can help you find the answer.
Time limits most commonly missed in relation to appeals, a claim example and lessons learned.
Time limits most commonly missed in relation to international contracts for the sale of goods.
Common GST questions in relation to registration, land transactions, purchaser withholding and more.
Below are frequently asked GST questions in regards to vacant land issues. Click on the question below to view answer.
Below are frequently asked questions in regards to margin scheme issues. Click on the question below to view answer.
This section covers the most frequently asked questions in regards to general GST issues.
Below are frequently asked questions relating to GST in regards to commercial property. Click on the question below to view answer.
Below are frequently asked questions in regards to new residential property issues. Click on the question below to view answer.
This section covers frequently asked GST questions in regards to new residential property issues.
Below are frequently asked questions in regards to Going Concern issues. Click on the question below to view answer.
Have a client-related question about GST? LPLC's dedicated GST advice service can help you find the answer.
Below are frequently asked GST questions in regards to vacant land issues. Click on the question below to view answer.
Below are frequently asked questions in regards to margin scheme issues. Click on the question below to view answer.
This section covers the most frequently asked questions in regards to general GST issues.
Below are frequently asked questions relating to GST in regards to commercial property. Click on the question below to view answer.
Below are frequently asked questions in regards to new residential property issues. Click on the question below to view answer.
This section covers frequently asked GST questions in regards to new residential property issues.
Below are frequently asked questions in regards to Going Concern issues. Click on the question below to view answer.