要分清楚 look through company (ltc) 和 trading company。作者: clam 时间: 2019-2-16 08:59:07
If you buy a commercial property.. you need to be GST registered anyway.
If it's just residential.... I wouldn't really bother, so much hassle when you sell.作者: bungyjumping999 时间: 2019-2-16 10:10:08
本帖最后由 bungyjumping999 于 2019-2-16 13:15 编辑
1) LZ wants to claim GST from IRD after buying the residential property as the price is GST inclusive
Say, he bought the residential house for $1 million from a non -GST seller, he wants to claim GST rebate from IRD because he claims he is GST registered person / entity.
- The question is how much of $150K you can get from IRD? haha..... big question. The seller is not a GST registered person, he is not going to pay GST to the IRD. (re: GST schedule in the sale/Purchase agreement, an important doc)
2) Self-professed GST entity will have to pay GST when you sell the property.
There is no free lunch, as most residential property sale will be GST inclusive. You will have to pay that GST back when you sell. So, it can be tricky on the pricing at the time you sell.
3) Also by registering your entity with GST is showing you are a trading company and trading property is your business nature, thus, all profit will be taxable income when you sell.
IRD will make a profile on you and monitor you on every move.