Jonesey wrote:

That is one way to do it, but it may or may not be a good idea – you need some legal advice.

That is one way to do it, but it may or may not be a good idea – you need some legal advice.

If the development fails you will both go down with the company.

If the purchaser has not taken a caveat then you may be able to get finance using both properties as security – depends on what you have agreed to. If servicing is an issue then you may be able to use bridging finance as well.

aussieguy2000 wrote:

Are there any “portable” homes in the area people want to dispose of (ie give away – most give them away but you have to pay for transport), depending on your CGT liability, if someone was to dump an old house on the land, check what services you have to have connected (living without grid connected electricity isnt illegal is it?), move into it and sell the block… you may get lucky and find someone who will take it with the house, otherwise you may have to pay to have it dismantled and disposed of… if you CGT liability is 50k it wouldnt be worth it as that stuff isnt exacly cheap even for one of those houses, if it was 500k this strategy would save you the cost of a house (literally!)… obviously you would have to do enough to “prove” to the ATO that you actually lived in it if they came snooping… just an idea though.

But this would not backdate the exemption to the date of purchase, but from now onwards. Would also need an occupation certificate to be considered a residence – probably.

Look for Vendorfinancelawyer.com.au or google Tony Cordato

What if someone slipped and injured themselves? The vendors would be exposing themselves necessarily.

look for a property that suits the business…

Generlly the value of an item is what the market is willing to pay = contract price. In my 14 yers of broking I have only seen about 2 purchase valuations come in higher than purchase price.

But once settled the valuers will rely more on comparable sales so you may have a goodd chance of getting a higher valuation in few months.

contract date is considered the date you become owner for CGT purposes.

No, because there would be some overlapping of owership period – so only one could be the main residence at any one time.

Just focus on saving into the PPOR offset.
move the $5k to the PPOR offset too.

Paying down an IP loan while you have non deductible debt will mean you are giving up tax benefits while paying more interest which you cannot deduct.

Separately look at super too.