Just another thought, an accountant relative suggested using a trust with a company as the beneficiary. The company then pays all profits into the superannuation account of a retired person(s) and once July 1 2007 rolls around, that person will then be able to withdraw that money tax free (only tax paid is 15% contribution tax). May be a way to minimise tax liability for short term renovation/development profits.

Check out with your own accountant first, but interested to hear anyone elses comments….

Regards

David