The sale and purchase
of residential land (which includes vacant land used for residential purposes)
has become more complex due to the tax laws affecting land:

acquired
for a creditable purpose (GST obligations might apply); andsold
for more than $750,000.00 (ATO tax obligations apply).

GST Withholding Tax

The GST amendment was
introduced to ensure that builders/developers would not circumvent their
obligations to […]