Tag Archive for: land transactions

The rate of GST is changing on 1 October 2010 to 15%. Get this wrong and it could cost you dearly, especially if you are purchasing or leasing property.  This short note covers a couple of important situations that could save you money, in terms of the New Zealand GST Transitional Rules.  First we consider the situation where you purchase a property now, but the contract does not become unconditional until after 1 October 2010.  This is likely to happen more and more frequently as the time gets closer to 1 October 2010, and will be something to watch out for if you are in the market for a house. This will only apply if you are purchasing from a registered vendor.

Read more