GST on uncompleted property

Interested parties Participants posing questions to O'Connell (inset) during the StarLIVE talk on GST.

PETALING JAYA: Commercial property that is not completed by April 1, 2015, will be subject to the Goods and Services Tax (GST).

Projects under construction will be valued as of March 31, and GST will be levied on the uncompleted portion of the project. For example, a project that is 40% complete on March 31 will see GST imposed on the remaining 60%.