GST ‘surprise’ for residential premises

Kate Law, indirect tax partner at KPMG, explained that from 1 July 2018, the government plans to introduce measures which will require purchasers of new residential premises to remit the GST directly to the tax office as part of settlement.

“This announcement comes as a surprise and is a significant divergence from the way the GST system currently operates, where GST is collected from the supplier,” Ms Law said in a KPMG budget update. 

You’re out of free articles for this month

Log in Sign up

To continue reading the rest of this article, please log in.

Username or Email

Password Forgot password?

Keep me signed in on this device.

If you check this box before you log in, you won’t have to log back into the website next time you return, even if you close your browser and come back later.

If you check the box above before you log in, you won’t have to log back into the website next time you return, even if you close your browser and come back later.

---

or

---

Login with a Passkey

Create free account to get unlimited news articles and more!

First Name

Last Name

Mobile

Email

Organisation Type

Accounting Firm Corporate Accountant Financial Advice Practice Mortgage or Finance Brokerage Financial Institution Fund Manager Educational Institution or University Association, Institute or Not-for-Profit Government Insurance Provider Technology Provider Media, Consulting or Recruitment Other

By becoming a member, I agree to receive information and promotional messages from Accountants Daily. I can opt out of these communications at any time. For more information, please visit our Privacy Statement.

Need help signing up? Visit the Help Centre.

Katarina Taurian

AUTHOR

know more