Need answers to your GST and property questions?

We have released a new interactive goods and services tax (GST) property tool, which can assist you to correctly treat and report GST on your clients' property sales and other property related transactions.

The topics covered include:

• sale, lease or purchase of real property, including residential premises, commercial residential premises, commercial premises and vacant land
• claiming GST credits
• margin scheme eligibility
• GST-free supplies of real property.

To access the tool, refer to GST property tool.

Extracted from ATO eLink 43/2011