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All Topics / Legal & Accounting / Claiming GST on purchase of new land
Hi everyone. Im new to real estate and im in the process of buying my first vacant block of land in Victoria. It is 1 acre and is part of a brand new subdivision that is owned by the Catholic Church. The block of land im looking at purchasing is $115k + gst, Now the real estate agent has told me that I can claim the gst back on the purchase but i have to pay the full price on the land including gst then I need to apply through the ato to get the gst back. Is this true and if so what’s the process of going about this? To me it sounds like the estate agent might be feeding me a bit of crap to make a sale.
Thanks so much for any help you may be able to provide me.
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