Question: A self-managed superannuation fund (SMSF) wants to sell a commercial property for around $1.1 million. They aren't registered for GST. Do they need to register for GST for the month of the sale since the property sale exceeds $75,000? And will the sale include GST?

Q: A client owns a serviced apartment, managed by a motel chain. They got an offer to sell it to another investor. Will they have to pay GST on the sale?

Q: There's a valuable house in Sydney owned by Mr. and Mrs. X. They live there. Mrs. X wants to renovate the house, spending about 23% of its current value. They don't want to pay extra taxes for transferring part of the house to Mrs. X. So, they decided she'll lend the renovation money to Mr. X, secured by a mortgage. Mr. X will then pay back 23% of the house's value when repaying the loan, or 23% of the sale price if they sell the house. The renovation could increase the house's value more than the money Mrs. X loaned. If Mrs. X owns part of the house, she won't pay taxes when selling it, as long as it's still their main home. But if they use a mortgage, the tax treatment is different. Is a mortgage taxable? If so, would the extra money paid back be a profit subject to tax? And would they get a tax break if they hold the mortgage for over a year before repaying it?

Q: A client is buying a commercial property with a tenant, which means the purchase is GST-free because it's considered a going concern. However, the client plans to divide the land and build three residential townhouses. How does the client calculate the GST margin when selling these properties? (Note: The owner originally phased the property before June 2000, and it's been used for commercial purposes since.)