If you are registered for GST and have a property which you use to make taxable supplies of short-stay or visitor accommodation, the GST rules will generally apply to the sale of your property. You will also have to pay GST if you stop using your property for this purpose.
However, you can choose to treat the sale of your property as non-taxable if:
- you have not previously claimed a GST deduction for the property
- the property was not purchased or used for the main purpose of making taxable supplies
- the property was not purchased as a zero-rated supply (there's an exception if you make a debit adjustment before you sell the property for the GST you would have been charged if the sale to you was not zero-rated).
If you are not registered for GST, the GST rules will generally not apply to the sale of your property. This will be the case unless you intend to make supplies of more than $60,000 in the next 12-month period.
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