First time APT buyer HELP [Archive]

UncleJese

18th February 2010, 18:23

Looking to buy Hampton Down track side APT.

2 bed room

500,000 (20,000 GST premium)

What does that mean 20k GST???????

UncleJese

18th February 2010, 18:30

P.S. I am a newb and thanks for either making fun of me or not.. I am open for my lack of knowledge..

Smifffy

18th February 2010, 18:47

I'd say you need to check with the estate agent, but it means either:

the price is 500k plus an additional 20k for GST (sales tax - specifically Goods & Services Tax otherwise known as Grab, Snatch & Take)

or the price is 500k including 20k GST (sales tax) that you could claim back if you were buying it as part of a GST registered business

GST is currently 12.5% but the Minister for opression, rape & pillage has declared his intent to lift it to 15%

HTH

UncleJese

18th February 2010, 18:56

I'd say you need to check with the estate agent, but it means either:

the price is 500k plus an additional 20k for GST (sales tax - specifically Goods & Services Tax otherwise known as Grab, Snatch & Take)

or the price is 500k including 20k GST (sales tax) that you could claim back if you were buying it as part of a GST registered business

GST is currently 12.5% but the Minister for opression, rape & pillage has declared his intent to lift it to 15%

HTH

thanks a bunch

MIXONE

18th February 2010, 19:13

You realise that you've just managed to make many a poor kiwi biker insanely jealous.

UncleJese

18th February 2010, 19:33

but I am going to be able to let fellow riders/racers watch WSBK when they come there and maybe Moto GP and other events..

So i will be able to make some of you happy

Mully

18th February 2010, 19:35

Yay!!!

If you can buy, buy before they chuck GST up to 15%. Which will probably happen around May this year.

freedom-wedge

20th February 2010, 03:50

I'd say you need to check with the estate agent, but it means either:

the price is 500k plus an additional 20k for GST (sales tax - specifically Goods & Services Tax otherwise known as Grab, Snatch & Take)

or the price is 500k including 20k GST (sales tax) that you could claim back if you were buying it as part of a GST registered business

GST is currently 12.5% but the Minister for opression, rape & pillage has declared his intent to lift it to 15%

HTH

Minister for ORP interesting portfolio, must of appeared at the last govenrment reshuffle perhaps.