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  • Profile photo of dave_bdave_b
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    @dave_b
    Join Date: 2007
    Post Count: 3
    July 9, 2007 - 3:41 am

    Thanks for your input as well, Richard.  I'm going to talk to a knowledgeable accountant to find out more about this grey area, so that we can work our strategy within the rules to avoid the GST issue

    Regards
    David.

    Profile photo of dave_bdave_b
    Member
    @dave_b
    Join Date: 2007
    Post Count: 3
    July 5, 2007 - 4:10 am

    Thanks for your reply Jeff

    I certainly will seek the advice of an accountant on this topic, now that you've confirmed that there certainly is an issue here to be resolved.  I just wonder how many other people buying then substantially renovating a property with the view to then selling it (as distinct from a minor refurbishment) are aware of this issue, and whether anyone on this forum has actually been caught in a situation where they find themselves with an unexpected GST bill to pay. 

    Unless technicalities can be employed to get around the issue, my "business plan" is going to have to have a major rewrite.

    Cheers
    Dave B.

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