You could simplify the process by sending the rate noticeto the tenant so they pay it directly to the relevant government body. This will take one loop out of the cash cycle. Either way, the tenant will still pay the same amount for the rates. You charge GST on the rent and claim input credits on your expenses. The tenant pays GST on their rent and claims this back as an input credit.
Residential properties are input-taxed.
You do not charge tenants GST and you cannot claim GST input credits on your expenses. The landlord or company is not providing a service because you have paid a bond, but instead seeking a monetary assurance that you will meet your commitments. Accounting convention and the tax laws already expect you to perform a stocktake at the end of a financial period, and this will still be the case when GST comes into effect. The major change will be in the value you give your stock. Unless you are tax-exempt, your current stock includes a value component for the WST you paid your supplier.