GST ruling welcome on residential rentals

THE Real Estate Institute of WA has welcomed an Australian Taxation Office ruling removing requirements for residential rental strata unit owners to be registered for GST.

REIWA’s commercial chapter chairman Graham Iddles said this would clear up the confusion about who was responsible for GST in the inner city and in resorts.

“We asked the ATO if the supply of individually owned residential strata units is subject to GST if they are used for short-term rental accommodation, which is common in the inner-city and in resorts,” Mr Iddles said.

“This is because GST does apply to the category of properties called commercial residential, which are premises rented out for periods of less than 28 days such as hotels.

“However, the ATO has confirmed that individually owned strata units that are centrally managed and rented out for short periods of time are treated differently.”

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