If you’ve started or continued investing through platforms like CommSec, SelfWealth, Sharesies, Nabtrade or any other platforms that make investing easy there’s a few things you need to be aware of at tax time.
You’re looking to buy an investment property and wondering how it will affect your tax situation?
Firstly, it’s important to note the difference between a residential or commercial property. If you purchase a residential investment property, there is no GST applicable. This also means you cannot claim any GST, however a commercial property will require you to charge GST and lodge BAS on a Quarterly basis. There will also likely be GST on the purchase and sale which you need to consider.
