In most circumstances, the lessor is liable to pay GST on rent received when leasing commercial premises (including retail shops) and commercial residential premises. As such, a critical aspect considered by Sydney Commercial Lawyers and Contract Lawyers is the lessor’s entitlement to recover the GST from the lessee.
Generally speaking, the lessor will usually not be entitled to recover the GST payable on the rent payable by the lessee pursuant to a commercial lease unless the lessee has expressly agreed to reimburse the lessor. This is commonly done by way of Special Condition included in the Contract. It is important to remember that tax laws change regularly and it is necessary to receive professional and up to date legal on your tax position when managing your tax affairs.
Our Commercial Lawyers and Tax Lawyers work in cohort with Chartered Accountants. With a multi-disciplinary team offering a total service, Navado provides its clients with a unique chance to take advantage of expertise and skill across an array of professional areas. For more information, explore our website or contact our office on (02) 9233 4048.
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