Commercial property purchases in Queensland carry real time and cost consequences if the legal steps are missed. A GST obligation that catches a buyer by surprise at settlement, or a contract exchanged without due diligence in place, can be expensive to fix. For investors and business owners in Springfield, Ipswich and across South East Queensland, understanding how the process works before contracts are signed makes a significant difference.
Unlike a residential purchase, a commercial transaction generally has no cooling-off period, may attract GST on top of the purchase price, and requires a different approach to due diligence. The Queensland Government notes that a residential cooling-off period applies only to contracts for residential property, not commercial premises.
Our lawyers in Springfield help clients across Greater Springfield and Ipswich with buying commercial property, from contract review through to settlement.
Here is how buying commercial property generally works in Queensland, and what the key legal steps involve.
Key takeaways
- Commercial contracts generally have no cooling-off period, according to the Queensland Government.
- GST may apply to the sale price of commercial premises.
- A seller must provide a signed seller disclosure statement before the buyer signs.
This article is general information only and is not legal advice. Every situation is different, and you should speak with a solicitor about your own circumstances.
How does buying commercial property differ from residential in Queensland?
Buyers purchasing commercial premises in Queensland generally face a different legal framework from the one they may know from residential transactions, according to the Queensland Government. The most important difference is that the standard cooling-off period that applies to residential contracts does not apply to commercial property under the Property Occupations Act 2014.
That means a buyer who signs a commercial contract without first obtaining legal advice and completing due diligence cannot simply walk away during a five-business-day window. The contract binds when both parties have signed it, and the buyer must follow through on its terms.
A second major difference is GST. The Australian Taxation Office confirms that a seller of commercial premises is generally liable for GST on the sale price, whereas the sale of existing residential premises is input taxed and carries no GST obligation. Whether a going concern exemption or the margin scheme applies depends on the specific facts of the transaction and is a question for an accountant.
What due diligence steps are involved in a commercial purchase?
Due diligence on a commercial property typically covers the title, the lease position, zoning, approvals and the physical condition of the building. Business Queensland advises that due diligence on any commercial acquisition involves reviewing contracts and records before the purchase is committed to, and that it can take anywhere from a short period to several months depending on the complexity.
Common due diligence areas include:
- › Title search: confirms the current registered owner, mortgages, caveats, easements and other encumbrances, according to Titles Queensland.
- › Lease review: where a tenant is in place, the Queensland Small Business Commissioner notes that a commercial lease survives a sale of the land under Queensland's Property Law Act.
- › Building and zoning: Business Queensland advises checking that a certificate of occupancy is in place, confirming the building class and the approved use.
- › Land tax clearance: the Queensland Revenue Office confirms that unpaid land tax is a first charge on land and survives a transfer, making a clearance certificate important for any commercial acquisition.
- › GST position: the Australian Taxation Office says the sale contract should state whether the price includes GST and whether the margin scheme applies, and recommends getting advice before settlement.
What seller disclosure rules apply to commercial property in Queensland?
From 1 August 2025, Queensland's seller disclosure scheme applies to commercial property as well as residential, according to the Queensland Government. A seller of existing commercial premises must give the buyer a signed seller disclosure statement and prescribed certificates before the buyer signs the contract.
The statement covers the seller's and property's details, title searches, registered and unregistered encumbrances, zoning, transport infrastructure notices, resumption notices, listings on the Environmental Management Register or Contaminated Land Register, and certain building and planning notices.
Where disclosure is not given, or is inaccurate in a way that is material to the buyer and that the buyer was unaware of, the Queensland Government says the buyer may be able to terminate the contract up to settlement. Seller disclosure does not cover the structural soundness of the building or flooding history; buyers make their own enquiries on those points.
"Commercial property contracts move quickly and generally carry no cooling-off period. Having a solicitor review the contract and the disclosure documents before signing is the step that protects a buyer's position."
Jade Kickbusch, Principal, Brookwater Legal
How does a solicitor help with buying a commercial property in Queensland?
Step 1: Talk to us
Get in touch and we will explain how the process generally works and what the next steps look like for a commercial purchase.
Step 2: Review the contract and disclosure documents
We review the sale contract and the seller disclosure statement before you sign anything, identifying any encumbrances, lease obligations, zoning restrictions or GST matters that need attention.
Step 3: Carry out searches and due diligence
We carry out title searches, a land tax clearance, building records searches and any other searches the transaction requires, and we advise on any issues the results raise.
Step 4: Manage settlement
We handle the transfer of the title, arrange for transfer duty to be assessed and lodged with the Queensland Revenue Office, and coordinate settlement through the electronic lodgement system so the title registers in your name.
| Get in touch Need help with buying a commercial property? We're an experienced team who keep you well informed at every stage of the process. Get in touch to discuss your needs. |
What are the common mistakes when buying commercial property in Queensland?
The most common mistake is treating a commercial purchase the same way as a residential one. Buyers who sign a commercial contract expecting a cooling-off period can find themselves committed to a transaction they have had no opportunity to properly review. The Queensland Government is clear that the residential cooling-off period does not extend to commercial premises.
A second common issue involves GST. The Australian Taxation Office says the sale contract should state whether the price includes GST and whether the margin scheme applies. A contract that is silent on those points can create unexpected obligations at settlement, and sorting them out after signing is considerably harder than addressing them before.
Assuming that an existing lease will simply end on sale is a third misconception. The Queensland Small Business Commissioner notes that under Queensland's Property Law Act, a commercial lease survives a sale of the property, and the buyer steps in as the new landlord bound by whatever the lease provides.
What transfer duty applies when buying commercial property in Queensland?
Transfer duty, previously known as stamp duty, applies to commercial property purchases in Queensland. The Queensland Revenue Office confirms that in most cases the buyer is responsible for payment, and that duty is assessed on the dutiable value of the property, generally the higher of the agreed price or the unencumbered market value.
General transfer duty rates as at 25 June 2026, according to the Queensland Revenue Office:
- › Not more than $5,000: nil.
- › More than $5,000 up to $75,000: $1.50 for each $100 over $5,000.
- › $75,000 to $540,000: $1,050 plus $3.50 for each $100 over $75,000.
- › $540,000 to $1,000,000: $17,325 plus $4.50 for each $100 over $540,000.
- › More than $1,000,000: $38,025 plus $5.75 for each $100 over $1,000,000.
The Queensland Revenue Office confirms that home concessions are generally available only to owner-occupiers and that investment and commercial properties do not qualify. Documents are lodged within 30 days of the liability date, usually the contract date, and late lodgement or payment may result in penalty tax and interest charges.
Frequently Asked Questions
Is there a cooling-off period when buying commercial property in Queensland?
Generally no. The Queensland Government confirms that the five-business-day cooling-off period applies only to contracts for residential property, not commercial premises. A commercial contract binds when both parties have signed it.
Does GST apply when buying commercial property in Queensland?
It often does. The Australian Taxation Office confirms that a seller of commercial premises is generally liable for GST on the sale price, unlike an established residential home. Whether a going concern exemption or the margin scheme applies depends on the specific transaction, and an accountant can advise.
What does the seller disclosure scheme cover for commercial property in Queensland?
From 1 August 2025, the Queensland Government requires sellers of commercial premises to give the buyer a signed disclosure statement before the contract is signed, covering title, encumbrances, zoning and certain notices. It does not cover structural condition or flooding history.
What happens to a commercial lease when the property is sold in Queensland?
The lease generally survives the sale, according to the Queensland Small Business Commissioner. Under Queensland's Property Law Act, the buyer becomes the new landlord and is bound by the existing lease terms from settlement.
Do home concessions apply to commercial property purchases in QLD?
No. The Queensland Revenue Office confirms that transfer duty concessions for homes are generally available only to owner-occupiers of residential property. Commercial and investment properties are assessed at the general transfer duty rates.
Do I need a solicitor to buy commercial property in Springfield or Ipswich?
A solicitor's involvement in a commercial purchase is strongly worth considering. The Queensland Government notes that conveyancing is a legal service in Queensland, and a solicitor can review the contract, handle the seller disclosure documents, manage due diligence and coordinate settlement. Our conveyancing team acts for commercial buyers across Greater Springfield and Ipswich.
When does GST withholding apply to a commercial property purchase in Queensland?
The Australian Taxation Office confirms that GST withholding applies when buying new residential premises or potential residential land, not generally when buying commercial premises. Whether any withholding obligation arises in a particular commercial transaction depends on the facts, and an accountant can advise.
Your Next Steps
Buying a commercial property in Queensland involves legal and financial steps that differ materially from a residential purchase. Getting the contract, the disclosure documents and the GST position reviewed before signing puts a buyer in the best position to proceed with confidence. For buyers in Ipswich and Greater Springfield, acting early in the process means there is time to address any issues the due diligence uncovers before they become settlement problems.
If you're working through a commercial property purchase, the right advice early makes the process simpler. Contact the Brookwater Legal team or call (07) 3437 8555 to talk through where you stand.
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External Resources
- Queensland Revenue Office: Transfer duty rates
- Australian Taxation Office: GST and property
- Australian Taxation Office: GST at settlement
- Queensland Government: Seller disclosure scheme
- Queensland Small Business Commissioner: Queensland's new Property Law Act
- Business Queensland: Building certificate of occupancy
Brookwater Legal · This article contains general information only and does not constitute legal advice. It does not take into account your individual circumstances. You should obtain legal advice about your own situation before acting on anything in this article. Liability limited by a scheme approved under Professional Standards Legislation.
