The Building and Construction industry seems to have changes coming at it from everywhere at the moment!
You may have heard that the government last year announced its intention to make changes that would require purchasers of new residential premises and home sites to remit the GST directly to the ATO. In the past GST was included in the price and paid at settlement to the vendor.
The proposed rules are set to commence on 1 July 2018 with transitional provisions for contract signed before 1 July 2018, provided they settle before 1 July 2020.
Cooper Grace Ward lawyers have a great article on the details of how the new rules might work.
At this stage (March 2018) the legislation has been introduced to parliament but is not yet law.