{{item.videoDuration}}
{{item.title}}
{{item.text}}
{{item.videoDuration}}
{{item.title}}
{{item.text}}
The first of April 2021 marked ten years since the compulsory zero-rating (CZR) GST rules for land transactions were introduced.
CZR is now better understood by the market, but there have been some challenges along the way. CZR fundamentally shifted the GST risk on transactions involving land (and buildings) from the Inland Revenue to the parties involved. The biggest failing that we regularly see in relation to CZR is the lack of attention by the parties to proper execution of contracts and information requirements. This has resulted in cash costs, time delays, failed deals, or a combination.
In this opinion piece, 10 years on from the introduction of CZR, we focus on the main lessons learnt. We also cover the key ‘watch outs’ for vendors, purchasers and all parties involved in property transactions.
{{filterContent.facetedTitle}}
{{contentList.dataService.numberHits}} {{contentList.dataService.numberHits == 1 ? 'result' : 'results'}}
{{contentList.loadingText}}
{{contentList.loadingText}}
How we can help
PwC’s Indirect Tax team has extensive technical experience and in-depth knowledge over a range of sectors and industries, including the property, financial services, retail, retirement and health, telecommunications, energy, government, and tertiary education sectors. This specialist knowledge means that our team can provide practical advice to help manage GST issues. We would be delighted to share our experience managing CZR to help your organisation navigate the process and manage transaction risk.
Contact us
Follow us
