Buying a renovated home? You could be up for an extra 10% GST, but it’s a grey area. Here’s a way to end the uncertainty
- Written by Christine Peacock, Lecturer in Law, Federation University Australia
CapturePB/ShutterstockA home buyer usually does not pay goods and services tax (GST) on a home except if they buy a new home that has not been sold before as residential property. However, when a home that has been “substantially renovated” is sold, the buyer may have to pay GST. This can add 10% to the price of the home for the buyer....
