Hi All,
This may not even be possible, and i'll show my lack of understanding with this question, but here goes…
I'm looking to purchase a site from a Vendor and I was wondering if I can request that she states the sales price includes GST.
The reason behind this is i'm led to believe that I can claim this back as input credits come tax time if it's listed on the contract.
I have a Company set up, which will act as the trustee for my trust come time to purchase. Is there any benefit (or is it even possible) to get the vendor to state that the sale is inclusive of GST ?
She owns it in her own name, and doesn't have any business related concerns with doing this – so I can see a tax benefit in doing this for myself.
Can anyone shed some light on this – is it possible ??
Cheers,
Darren
firstly, is it residential? Then, I believe it is input taxed.
secondly, the vendor would have to be registered for gst. Unless you were willing to add gst to the sale price, the vendor would lose 1/11th to gst. Must be a very keen vendor to do that.
Thats true, I can't see a vendor doing this without increasing the price
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