GST WITHHOLDING OBLIGATIONS. Is the Buyer registered for GST and acquiring the Land for a creditable purpose? (select whichever is applicable) Yes No [Note: An example of an acquisition for a creditable purpose would be the purchase of the Land by a building contractor, who is registered for GST, for the purposes of building a house on the Land and selling it in the ordinary course of its business.] The Seller gives notice to the Buyer in accordance with section 14-255(1)(a) of the Withholding Law that:
GST WITHHOLDING OBLIGATIONS. Is the Buyer registered for GST and acquiring the Land for a creditable purpose? (select whichever is applicable) Yes No [Note: An example of an acquisition for a creditable purpose would be the purchase of the Land by a building contractor, who is registered for GST, for the purposes of building a house on the Land and selling it in the ordinary course of its business.] The Seller gives notice to the Buyer in accordance with section 14-255(1)(a) of the Withholding Law that: (select whichever is applicable) ■ WARNING: Failure to comply with s83 Neighbourhood Disputes (Dividing Fences and Trees Act) 2011 by giving a copy of an order or application to the Buyer (where applicable) prior to Buyer signing the contract will entitle the Buyer to terminate the contract prior to Settlement.
GST WITHHOLDING OBLIGATIONS. Is the Buyer registered for GST and acquiring the Land for a creditable purpose? (select whichever is applicable) Yes No [Note: An example of an acquisition for a creditable purpose would be the purchase of the Land by a building contractor, who is registered for GST, for the purposes of building a house on the Land and selling it in the ordinary course of its business.] ■ WARNING: the Buyer warrants in clause 2.5(6) that this information is true and correct. ■ WARNING: All sellers of residential premises or potential residential land are required to complete this notice. Section 14-250 of the Withholding Law applies to the sale of ‘new residential premises’ or ‘potential residential land’ (subject to some exceptions) and requires an amount to be withheld from the Purchase Price and paid to the ATO. The Seller should seek legal advice if unsure about completing this section. The Seller gives notice to the Buyer in accordance with section 14-255(1)(a) of the Withholding Law that:
GST WITHHOLDING OBLIGATIONS. Is the Buyer registered for GST and acquiring the Land for a creditable purpose? (select whichever is applicable) Yes No [Note: An example of an acquisition for a creditable purpose would be the purchase of the Land by a building contractor, who is registered for GST, for the purposes of building a house on the Land and selling it in the ordinary course of its business.] The Seller gives notice to the Buyer in accordance with section 14-255(1)(a) of the Withholding Law that: (select whichever is applicable) ■ WARNING: the Buyer warrants in clause 2.5(6) that this information is true and correct. ■ WARNING: All sellers of residential premises or potential residential land are required to complete this notice. Section 14-250 of the Withholding Law applies to the sale of ‘new residential premises’ or ‘potential residential land’ (subject to some exceptions) and requires an amount to be withheld from the Purchase Price and paid to the ATO. The Seller should seek legal advice if unsure about completing this section. the Buyer is not required to make a payment under section 14-250 of the Withholding Law in relation to the supply of the Property the Buyer is required to make a payment under section 14-250 of the Withholding Law in relation to the supply of the Property. Under section 14-255(1) of the Withholding Law, the Seller is required to give further details prior to settlement. The REIQ Terms of Contract for Houses and Residential Land (Pages 7-14) (Sixteenth Edition) contain the Terms of this Contract.
GST WITHHOLDING OBLIGATIONS. Price Does Not Include GST) applies If neither box is marked or if both boxes are marked, clause 11.4 (Purchase Price Includes GST) applies. Is the Buyer registered for GST and acquiring the Land for a creditable purpose? (select whichever is applicable) Yes No ■ WARNING: the Buyer warrants in clause 2.4(6) that this information is true and correct.
GST WITHHOLDING OBLIGATIONS. Is the Buyer registered for GST and acquiring the Lot for a creditable purpose? (select whichever is applicable) Yes No [Note: An example of an acquisition for a creditable purpose would be the purchase of the Land by a building contractor, who is registered for GST, for the purposes of building a house on the Land and selling it in the ordinary course of its business.] The Seller gives notice to the Buyer in accordance with section 14-255(1)(a) of the Withholding Law that: the Buyer is not required to make a payment under section 14-250 of the Withholding Law in relation to the supply of the Property the Buyer is required to make a payment under section 14-250 of the Withholding Law in relation to the supply of the Property. Under section 14-255(1) of the Withholding Law, the Seller is required to give further details prior to settlement. (select whichever is applicable) ■ WARNING: Failure to comply with s83 Neighbourhood Disputes (Dividing Fences and Trees Act) 2011 by giving a copy of an order or application to the Buyer (where applicable) prior to Buyer signing the contract will entitle the Buyer to terminate the contract prior to Settlement.
GST WITHHOLDING OBLIGATIONS. Is the Buyer registered for GST and acquiring the Land for a creditable purpose? (select whichever is applicable) Yes No [Note: An example of an acquisition for a creditable purpose would be the purchase of the Land by a building contractor, who is registered for GST, for the purposes of building a house on the Land and selling it in the ordinary course of its business.] The Seller gives notice to the Buyer in accordance with section 14-255(1)(a) of the Withholding Law that: (select whichever is applicable) the Buyer is not required to make a payment under section 14-250 of the Withholding Law in relation to the supply of the Property the Buyer is required to make a payment under section 14-250 of the Withholding Law in relation to the supply of the Property. Under section 14-255(1) of the Withholding Law, the Seller is required to give further details prior to settlement. The attached Terms of Contract (pages 4 to 14) contain the Terms of this Contract. SETTLEMENT Settlement Date: 30 days from the Contract Date 🗆 or the next Business Day if that is not a Business Day in the Place for Settlement Place for Settlement: Cairns SIGNATURES The contract may be subject to a 5 business day statutory cooling-off period. A termination penalty of 0.25% of the purchase price applies if the Buyer terminates the contract during the statutory cooling-off period. It is recommended the Buyer obtain an independent property valuation and independent legal advice about the contract and his or her cooling-off rights, before signing. If this contract is concluded at, or, in limited circumstances, as a result of auction, no cooling-off period is applicable.
GST WITHHOLDING OBLIGATIONS. Is the Buyer registered for GST and acquiring the Land for a creditable purpose? (select whichever is applicable) «Purchaser_1_Radio_Button_Group_1»«Signatory_1_Radio_Button_Group_1» - Yes «Purchaser_1_Radio_Button_Group_1»«Signatory_1_Radio_Button_Group_1» - No [Note: An example of an acquisition for a creditable purpose would be the purchase of the Land by a building contractor, who is registered for GST, for the purposes of building a house on the Land and selling it in the ordinary course of its business.] The Seller gives notice to the Buyer in accordance with section 14-255(1)(a) of the Withholding Law that: (select whichever is applicable) ■ WARNING: Failure to comply with s83 Neighbourhood Disputes (Dividing Fences and Trees Act) 2011 by giving a copy of an order or application to the Buyer (where applicable) prior to Buyer signing the contract will entitle the Buyer to terminate the contract prior to Settlement.
GST WITHHOLDING OBLIGATIONS. Is the Buyer registered for GST and acquiring the Lot for a creditable purpose? (select whichever is applicable) Yes No
