ha ha funny people are like that. I knew a guy who spend about 4 hours ringing around to buy a camera and to save a few $$$. Then he went out to buy a juice shop and did not DD at all and just paid the advertising price too. Within months the business had failed.

No need to limit yourself to Brisbane.

There is a great aussie site out there with heaps of free excel spreadsheets – can't remember what it was called now

Inflexible.

Can achieve the same wit a trust with much greater flexibility.

Y

es it is  possible. Just borrow the deposit from the vendor. He will want to take a second mortgage over the land but titles can be transfered into your name. You can arrange to pay him in several ways – IO or PI or a one off payment on your subsequent sale.

Once you have found a buyer the vendor will attend settlement with you and your new purchaser will make out a cheque to him and a cheque to you. He will hand over a discharge of mortgage and that will be it.

Some points

It may be very hard to find the 1st mortgage lender who allows this.

It would be easier if you just avoided the vendor financing bit altogether if you can.

Because the interst on the home loan would increase and this would not be deducitble.

What do you mean by Vendor Finance?

Installment contract would mean you would not get title, generally, until you pay him in full.

Borrowing the deposit would mean you still need a bank loan.

You will find that GST doesn't depend on the entity, but on the property type. GST is payable on new houses whether you buy in personal names or company – but it will be built into the house.

But you should not use a company for several reasons

1. No 50% CGT discount.

2. flat 30% tax.

3. asset protection

Better to look into trusts and you may be able to distirbute any income from the trust to the company to offset any losses.

You should see another accountant too.

There is good reason they call me "Australia's leading property coach" !

People often get paranoid when trying to break the law

This is exactly what the ATO could do and it would be very easy with data matching. But just because the electricity was in another name doesn't mean it wasn't your main residence.