Hi Everyone,
I am interested in a bloc of land on the edge of town.
It is currently owned by a Air Services Australia from which they did a lot of the communications for the local airstrip. The organisation seems to be semi government utilities type thing.
The infrastructure out there is all obsolete and no longer used.
It is expressions of interest and they are completeing on a commercial contract that states GST must be paid on top of the purchase price?
Does GST actually apply? THe land is now zoned rural, which it has never been used for and the function it did have is well obsolete.
THis is a quick one as expressions of interest close at 4pm today. Any thoughts would be greatly appreciated
cheers
Rav
GST, yes
GST status is determined by the seller, ie; if they’re registered, except for GST free items, like food, medical
Thanks trajik,
Turned out others wanted the property more than me, or more to the point they had deeper pockets. Thank you for the reply though
Rav
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