The standard REIQ contract for houses, land, and units states that the GST is included in the price. Therefore any GST payable is paid by the seller. There is no GST payable for residential properties (houses and units) even when the house is being used for a commercial purpose. If, however, a commercial building is used for residential purposes, GST is payable by the seller. GST is payable on the sale of land by developers irrespective of what it is zoned.
Camotion! Marketing Mackay | iScape Mackay Business IT Specialists