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  • Profile photo of jimmyboyjimmyboy
    Member
    @jimmyboy
    Join Date: 2008
    Post Count: 4
    December 9, 2008 - 1:21 pm

    Hi Everyone, I wonder if i could get your opinion or advices on this matter;

    I am looking to purchase a property which including an approve subdivision planning permit (single story 3br unit)at the rear of the property. Is it possible to sell the subdivided land & planing permit to my friend to build? If so are they able to capitalise on the FHOG?

    Just one of those things that came across my mind, while deciding on the purchase.

    Thanks in advance,

    Jimmy

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    December 9, 2008 - 11:06 pm

    If you sub-divide the land it will have a separate title, so you can sell and your friend could claim the FHOG just as be could on any other property

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of jimmyboyjimmyboy
    Member
    @jimmyboy
    Join Date: 2008
    Post Count: 4
    December 9, 2008 - 11:16 pm

    This would also mean they're qualified for the FHOG bonus as it would a new constructed house ?

    Thanks again,

    Jimmy

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    December 10, 2008 - 12:22 am

    yep.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 4 posts - 1 through 4 (of 4 total)

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