Did you know that when buying vacant land, the contract can specify whether GST is payable? If you’re not GST registered and can’t claim it back, it might not seem crucial. But if the entity you’re buying in is GST registered and can claim it back, how GST is applied becomes vital. Simply because the vendor can opt for the Margin Scheme if the buyer agrees in writing. Often, buyers don’t realise they’ve agreed to this when signing the contract. Contact //Adcocks Conveyancing on 08 8267 6255 to determine if GST is applicable to your contract. We’re here to ensure your land purchase is seamless and works the way you need it to.