Recently I posted our article GST Insights | Consequences of non-resident on-selling off the plan properties. Only days later, I found myself acting for clients dealing with a vendor who refused to register for GST. The Vendor’s legal structure The vendor’s legal structure looked something like this (I was not invited to review any documentation but after discussing the…
Background Most readers will be aware of the Australian banking sector’s refusal to lend to non-resident investors using foreign income as a basis for meeting lending criteria. Off-the-plan property is attractive to non-resident investors for a host of reasons, but in particular, they are an asset class for which no FIRB approval is required. Having…