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  • Profile photo of HealthiswealthHealthiswealth
    Participant
    @healthiswealth
    Join Date: 2016
    Post Count: 5
    February 1, 2016 - 2:49 pm

    Hi Everyone,
    Could someone please give me some tax implications info on sub developing and selling?

    Say I was to subdivide a 5 acre block where an elderly couple lives, buy the other half off them and build a house and sell.
    What sort of CGT costs would I be up for assuming:

    Land PP: 200k
    development of house: 350k
    Sale price 700k

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    February 1, 2016 - 3:38 pm

    Probably taxed on revenue account. GST and tax on the profit.

    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

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