The Retirement Villages Association (RVA) and Property Council of Australia (PCA) successful in clarifying the GST impact for vendors on the sale of retirement villages.
After a period of about 18 months collaborations between the ATO, RVA and PCA, it has been determined that GST applies only on a net basis which excludes the value of resident loans assumed by the purchaser.
Please visit the Retirement Villages Association and Property Council of Australia websites for more information. The RVA is the national peak body for the Australian retirement village industry. The PCA champions the interests of the property industry in the political arena to ensure a better business environment.
Please visit NEWS & EVENTS to view a listing of all articles.