Purchasers of new residential premises or potential residential land now have to pay the GST directly to us as part of the settlement.
These changes started on 1 July 2018.
The amount of GST hasn't changed, just who is required to pay the GST to us. You now pay the GST directly to us instead of paying it to the developer as part of the purchase price.
You won't have to register for GST to make this payment to us.
When you make a payment ensure you include your payment reference number. Payments will be accepted at Australia Post offices later this year.
Property developers will need to give written notification to you when you need to withhold an amount for GST.
This means that you get the 'real' valuation of your real estate with no hidden agendas.