Generally GST will not apply to the purchase price of existing residential properties. This includes investment and owner- occupier, where the property is occupied as a residence.

GST however does apply to new residential property purchased directly from a developer. It is included in the construction price of a new home. GST also applies to purchase price of new vacant residential land sold by a developer or other registered vendor. “New” land is defined as land not previously sold as residential land.

GST will not apply to the resale of vacant residential land.

Stamp Duty is still payable on the purchase price of a property. If the price of the property includes GST as in the case of new residential property, then stamp duty is payable on the GST inclusive price.

Last updated 2/3/04

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