Hi All,
I am new to investing and currently have an offer on a property in WA, the property has an established house on a 870sqm block. The property is on a corner block and the dwelling is located on one side of the block and the land on the corner of this property is quite large and not used… The curent zoning is R17.5 but the local shire currently has propossed plans to change this to R30 zoning. If the zoning was R30 (on a 870sqm block) what size would that land need to be for me to subdiviede ??
Also if i was to subdiviede and sell the block would i have to pay capitle gains tax ? even if i was to put all the $$ on the existing dwelling ? and if i would be up for the tax would i still need to pay tax is this property was my prime residents and i sell the block ?
Any help you can offer would be greatly appreciated
Cheers,
David – Perth WASee Table 1 about zoning size. R30 is much better
David
Being R30, you would can get away with a minimum 270sqm block, but the average over the entire block would need to be 300sqm each block. However, being a corner block you may be able to get 3 blocks. This will depend on services, council approval on the variance to the average etc.
You will need to wait until the zoning change is through. In the meantime you could get a Contour and feature survey to help answer those questions.
What shire is it and have far away are they saying until the change goes through?
In regards to the TAX questions, Get a good Accountant that know what they are doing.
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