Monthly Archives - November 2018

Changes to GST Withholding – What You Need to Know

Changes to GST Withholding from 1 July 2018: What you need to know Announced in the 2017 Federal Budget and coming into effect on 1 July, 2018, the GST Withholding Law requires buyers of certain residential premises to withhold a portion of the purchase price from the seller at settlement to be paid as GST to the Australian Tax Office (ATO). This new law is designed to prevent tax avoidance by companies through phoenixing. The Real Estate Institute of Queensland (REIQ)...

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