Q: A client wants to know about the GST implications of selling commercial property as a going concern. Since there's no GST on the property sale itself, what about other expenses like commission and legal fees that do have GST? Can the GST on these be claimed?
A: Basically, if something is bought for business reasons, it's usually eligible for a GST credit. However, if it's for private or non-business use, no credit is allowed. In this case, since the property sale is GST-free but not classified as non-business, you can claim GST credits for related expenses like commission and legal fees.
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