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  • Profile photo of Wez2014Wez2014
    Participant
    @wez2014
    Join Date: 2014
    Post Count: 5
    March 17, 2016 - 6:34 am

    Ok thanks, could you please explain the 5 yrs rule to me? As people have said hang on to the unit/s for 5 years…

    Thanks :)

    Profile photo of Wez2014Wez2014
    Participant
    @wez2014
    Join Date: 2014
    Post Count: 5
    March 14, 2016 - 5:18 pm

    So would the best way to go be register for GST in 5 years or now??
    Then hold onto the units for 5 years and then sell using the margin scheme.

    How do you know if your allowed to use the margin scheme or not?

    So what do builders who develop normally do when they buy a block of land and subdivide then build a few houses and sell some on seperate titles?
    Do they register for gst before they start the project then use the margin scheme and just pay 10% of the profit on each sale?

    Thanks for everyones help!

    Profile photo of Wez2014Wez2014
    Participant
    @wez2014
    Join Date: 2014
    Post Count: 5
    March 9, 2016 - 10:07 am

    How are they to know if it is intentional to make $$?

    Seems to be a grey area to me?

Viewing 3 posts - 1 through 3 (of 3 total)