LCR 2018/D1 relates to changes introduced to the GST law by Schedule 5 of Treasury Laws Amendment (2018 Measures No. 1) Act 2018  which require a purchaser of certain types of real property to make a payment to the Commissioner that represents the GST payable by the vendor. Specifically, LCR 2018/D1 addresses:

  • the date from which the new measures will apply;
  • the types of supplies for which a liability will arise for purchasers;
  • when a purchaser is required to pay;
  • the amount the purchaser is required to pay;
  • the requirement for a vendor to provide a notice to the purchaser, and
  • the penalties that may apply to vendors and purchasers.