The REIV has called on both the State and Federal Governments to remove the tax on tax rort of stamp duty being levied on GST in commercial real estate transactions.
When the GST was introduced in 2000 it created an anomaly in which state property taxes – stamp duties – were being charged not just on the actual cost of the property but also on the GST paid.
REIV CEO Enzo Raimondo said “the GST is a tax on goods and services; it was not intended to be a tax on tax.
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