Common use of GST WITHHOLDING Clause in Contracts

GST WITHHOLDING. 7.1 Where the Property the subject of this Contract is, within the meaning of the GST Act a 'new residential premises' or 'potential residential land' the Seller must give to the Buyer a GST Withholding Notice (Item 27.3) in accordance with section 14-255 of the Taxation Administration Act 1953 (Cth).

GST WITHHOLDING. 7.1 Where the Property the subject of this Contract is, within the meaning of the GST Act a 'new residential premises' or 'potential residential land' the Seller must give to the Buyer a GST Withholding Notice (Item 27.323.3) in accordance with section 14-255 of the Taxation Administration Act 1953 (Cth).