Hi Guys New to this forum and would appriciate any help you can give me.
I am a licenced builder and have been working in our own family building business for a few years but untill now have not been that interested in propety investment.
My wife and i have decided we want to finally get in to the market and buy a DA approved Duplex site which currently has a old house on it.My first question is will we be qualified to get FHOG of $14K because there is a existing house or $21k because we intend to build staight away also does the $21k apply to owner builders.
My second question is what will be the best way to avoild capital gains if we were wanting to sell one of the duplex in the future will we have to keep the property for 12 months and when does that 12 months start ( does it include construction time )
My last question is what are the Pros and Cons interms of tax saving, FHOG and capital gains issues of having the house built by my family building company or doing a owner builder using my own builders licence.
Regards Tom
hi Tom
One thing you may not have considered, is did you know that it is much more difficult to get finance for owner builders? Especially these days. Having your company build would still be classed as owner builder by many lenders too.
For the tax issues, have a look at http://www.bantacs.com.au for some useful pdf booklets.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
You must be logged in to reply to this topic. If you don't have an account, you can register here.
