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GST on Rental or Sales of Commercial or Industrial Properties, Are They Claimable?

GST on rental or sales of commercial or industrial properties, are they claimable

As we know, unlike residential properties, industrial properties and commercial properties are usually subject to Goods and Services Tax or GST whether the transaction is a rental or a sale transaction most of the time. This is true when the landlord or the seller of the commercial or industrial property is GST registered.

Are These Taxes Claimable?

Is your company GST registered? If the answer is yes, GST on rental or purchase for your warehouse or factory would be claimable as your company is GST registered. However, do note that the tenancy or the purchase has to be under the GST registered company’s name.

Also, do note that for tax claims, there must be valid supporting documents such as tax invoices which include the landlord’s GST registration number etc which you will need to keep as records.

Is It Possible to Do Voluntary GST Registration?

It may be possible for your company to be GST registered voluntarily, however, it is always advisable to understand the advantages and disadvantages of voluntary GST registration as well as the roles and responsibilities of a GST registered company before doing so.

For more information on claiming GST, you may refer to IRAS website. There are also videos which may be able help you to understand better or clarify your doubts.