Topic: GST on Loan Repayments

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29/05/2016 at 5:17 pm #10473 Reply | Quote
Briang
Flatchatter
Hi

Our Body Corporate took out a sizable loan to enable work to be carried out on our block of townhouses. A considerable portion of our levy will include repayment of the loan plus interest. Are we required to pay GST on this portion of the levy?
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29/05/2016 at 9:35 pm #24971 Reply
scotlandx
Flatchatter
You pay GST on your strata levies if the scheme is registered for GST – it doesn’t matter what the levy is for, it is a levy on which GST is payable. So the answer is GST will be included, presuming your scheme is registered for GST.

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Reply To: GST on Loan Repayments

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