GST Withholding Law

Is it important to complete the GST Withholding Obligations section of the Contract?

Yes. Following the introduction of the Australian Taxation Office Withholding Laws it is extremely important for both Buyers and Sellers of property that this information is correctly completed in the Contract. Financial penalties may apply to both Buyers and Sellers where the withholding has failed to be done when required or where the amount withheld is incorrect. We recommend that prior to completing this section of the Contract that both Buyers and Sellers speak to their Accountant or Income Tax Professional to obtain advice.

We are here to help. Please contact our office should you require any assistance.

(ALSO READ:)
Land Tax Under Contract
Buyers Guide
Sellers Guide

Check out OwnIt conveyancing Queensland offices near you:


To learn more about Foreign Buyer Approval today, contact OwnIt Conveyancing on 1300 553 750.

Leave a Reply

Your email address will not be published. Required fields are marked *

Other Topics
Need Help?

Contact us today for all your conveyancing needs.

Andrew Francey

B.Bus, GCAF, GAICD

Chief Operating Officer

Andrew has over two decades experience in high growth fast moving consumer goods, agribusiness and professional services. Supporting the OWNit team to deliver on client expectations, and implementing processes to scale the organisation, is a key focus for Andrew.

Andrew is a C-Suite leader with Chairman and Board experience.  He has formal qualifications in Business, Applied Finance and AICD Company Directors Course.

How Can We Help?

Google Rating
4.6
Based on 1459 reviews
×