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GST at settlement – a guide for purchasers and their representatives

You may have a withholding obligation if you purchase or enter into a long-term lease, of either:

  • new residential premises
  • land that could be used to build new residential property (‘potential residential land’).

The withholding obligation means you must withhold an amount from the contract price of the sale (supply) and pay it to us.

Source: ATO

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