{"id":12858,"date":"2018-06-28T08:44:40","date_gmt":"2018-06-27T20:44:40","guid":{"rendered":"http:\/\/propertynoise.co.nz\/au\/?p=12858"},"modified":"2018-06-28T08:44:40","modified_gmt":"2018-06-27T20:44:40","slug":"big-property-changes-starting-july-1","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/big-property-changes-starting-july-1\/","title":{"rendered":"Big property changes starting July 1"},"content":{"rendered":"

 <\/p>\n

PHOTO:\u00a0Those over 65 who sell their family home can contribute $300,000 of the profit into their superannuation from July 1. Picture: AAP Image\/Joel Carrett.\u00a0Source: AAP<\/em><\/span><\/strong><\/p>\n

BIG changes are afoot in the property market starting July 1 \u2014 and here\u2019s your quick guide to it all from buyers collecting tax for ATO to higher land taxes.<\/p>\n

\n

FEDERAL<\/b><\/p>\n

GST<\/b><\/p>\n

The biggest change starting July 1 is that buyers of new houses, units or residential land blocks effectively become tax collectors for the government, that is, they become responsible for paying the GST element of their deal direct to ATO.<\/p>\n

Shoddy developers who \u201cphoenix\u201d have caused the change, according to the Property Council of Australia \u2014 \u201cphoenixing\u201d is when a person starts a new company doing the same business after deliberately liquidating another company to avoid paying its debts including taxes.<\/p>\n<\/div>\n

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  PHOTO:\u00a0Those over 65 who sell their family home canRead More →<\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":12859,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478099719,478098512,478098521,478099718,478098519,478098535,478099715,478098513,478099713,478099714,478099717,478098579,478098510,478098514,478098511,478098509,478099716,478099720],"class_list":["entry","author-wpcomsupport","post-12858","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-ato","tag-australia","tag-australians","tag-gst","tag-home-ownership","tag-house-prices","tag-new-houses","tag-property","tag-property-changes","tag-property-changes-starting-july-1","tag-property-council-of-australia","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-news","tag-shoddy-developers","tag-superannuation"],"yoast_head":"\nBig property changes starting July 1 - 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