GST on Property

Goods and Services Tax — generally only applies to brand-new residential property and is usually included in the purchase price.

GST at 10% applies to brand-new residential property (off-the-plan, house-and-land packages and substantially renovated dwellings) but not to established homes. The 1/11th GST component is usually already included in the advertised price. The buyer must withhold and remit the GST directly to the ATO at settlement under the GST property withholding rules introduced in 2018.