NZ - GST

Old Nov 29th 2001, 1:24 pm
  #1  
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Is GST payable on private property purchases, ie the family home? I've searched the net but all I seem to have established is that GST seems to be payable on the purchase of commercial properties, eg Bed + Breakfast establishments.

Cheers - Jez
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Old Nov 30th 2001, 5:18 am
  #2  
Cristian Croitoru
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No. You pay GST when you make money from your propriety (AFAIK).

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Old Dec 5th 2001, 11:36 am
  #3  
Winnie
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I think private homes are exempt, but I'm not a Kiwi... yet ) so don't take my
word for it.

Winnie xx
 
Old Dec 7th 2001, 5:39 pm
  #4  
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GST is not paid on the vast majority of private property purchases.

If you buy a lifestyle block/acreage (with or without a house on it) you may sometimes have to pay GST if the previous owner ran a GST registered business. If there is a house on the acreage you will pay GST only on the value of the land, not the value of the house.

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Old Dec 8th 2001, 9:18 am
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Thanks - Jez
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