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.
Christchurch CBD
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FAX: +64 3 348 6305
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Christchurch
PHONE: +64 3 348 8480
FAX: +64 3 348 6305
PHYSICAL ADDRESS:
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Christchurch 8041, New Zealand
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Christchurch, 8440, New Zealand
Rolleston
PHONE: +64 3 348 8480
FAX: +64 3 348 6305
PHYSICAL ADDRESS:
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Rolleston, 7614, New Zealand
POSTAL ADDRESS:
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Christchurch, 8440, New Zealand
Hokitika
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FAX: +64 3 755 8073
PHYSICAL ADDRESS:
26 Weld Street,
Hokitika 7810, New Zealand
POSTAL ADDRESS:
PO Box 44,
Hokitika 7842, New Zealand
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