VIC Is GST Payable on Rent Received for Commercial Property?

[Tizzma]

Is GST payable on the rent received for a commercial property entered into after 1 July 2000, and who is responsible for payment under Property Law?

 

[James D. Ford - Solicitor]

Generally speaking, GST is payable on the rent for commercial property by the owner of the property... if they are registered or required to be registered for GST, and carrying on an enterprise... and the annual income exceeds the threshold... but this responsibility is typically transferred to the tenant and added to the rent due and payable by the tenant pursuant to the Lease Agreement.

Here is the ATO position:

Leasing and renting commercial premises | Australian Taxation Office

Kind regards

 

[Tizzma]

Generally speaking, GST is payable on the rent for commercial property by the owner of the property... if they are registered or required to be registered for GST, and carrying on an enterprise... and the annual income exceeds the threshold... but this responsibility is typically transferred to the tenant and added to the rent due and payable by the tenant pursuant to the Lease Agreement.

Thanks for your prompt reply. You're AWESOME!