vyaw2003Participant@vyaw2003Join Date: 2006Post Count: 185
If i buy a house for $500k in Brisbane and then split it $30-50k, then sell the new block without a property on it:
– Do I have to pay CGT if i sell within the year (assuming Logan council can approve it quick enough)
– Also I heard a rule that if you split a block you need to develop and put a house on the new block, is that true? I cant find anything on this. This one might be a wives tale, surly if get the plumbing and power to the block that is enough.
-If I want to split a block, is there a Logan council website that I can do a quick lookup on to see if a previous application has been rejected or can I see land plans (check for drains), for free before I buy the property?
Chris WhiteParticipant@chris-whiteJoin Date: 2006Post Count: 65
- This topic was modified 3 years, 9 months ago by vyaw2003.
We renovated and subdivided this property recently https://youtu.be/Q9NBdTKGzFkand and have a few others lined up to do the same. You don’t need to build a house on the newly created block if you are subdividing the land. Are you subdividing or creating a duplex situation? And is the property on two titles or one?
If the land is one title and you want to subdivide into two then councils fees alone are $30k to create the new title. Then you have services connection fees and installation, driveway and professional fees – so all up the costs are around $70k. In the example above we saved the $30k council contribution fee as the block was already on two titles, so we simply did a boundary realignment.
For location of services use – http://1100.com.au/
For previous DA’s use – http://pdonline.logan.qld.gov.au/MasterViewUI/Modules/ApplicationMaster/default.aspx
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