How will the GST affect rental income?

There is bound to be some confusion on the effect of the goods and services tax (GST) on the rental income of properties once the value-added tax takes effect on April 1, 2015.

It has been announced that the sale or leasing of residential property will be spared the value-added tax as it is categorised exempt-rated, while the leasing of commercial property will be subject to GST at a standard-rated 6%.

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Business , gst , rental income , rent , moore stephens , tams


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