All Topics / Help Needed! / Building block of units or Townhouses with group of people

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  • Profile photo of sydey99sydey99
    Participant
    @sydey99
    Join Date: 2008
    Post Count: 57
    August 27, 2009 - 11:17 pm

    Hi,
    we are 8 Members trying to build 8 Units/Townhouses after purchasing a block of land in sydney but we have Un answered questions:

    1. How do we buy the land on 8 people’s name? (Ones we select the land can we register on different names?) or any better way of planning this to reduce feature tax implications

    Thanks in Advance

    Oz

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    August 28, 2009 - 2:11 am

    Raj

    As we discussed you wont be able to buy the land in 8 individual names as the properties wont have individual titles until completion of the project.

    Unit Trust would be a suitable entity to consider. 

    Due to the size of the project it will be consider as a Development project with the terms, fees and charges that go with this.

    Richard Taylor | Australia's leading private lender

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    August 30, 2009 - 7:36 am

    Look in last month API magazine.. there is a story on someone who does this for a living. Cheers
    tugger

Viewing 3 posts - 1 through 3 (of 3 total)

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