End of GST Transitional Arrangements on 1 July 2020

On 1 July 2018 GST Withholding legislation commenced, introducing complex rules that required the recipient of a supply of new residential property or potential residential land (typically a Buyer) to withhold GST at settlement and remit it to the ATO. Transitional arrangements generally applied to contracts or options entered into prior to 1 July 2018, as long as … Read more