Speak to your business banker, not the gumby at the front desk. This is commercial lending for commercial purposes isn't it? In NSW you don't need a builders licence to build commercial premises – banks understand that and will limit funds based on your financials and ability to repay not some half-@rsed idea that you can owner-build once every…[Read more]

Qlds007 wrote:
5) After 5 years GST is no longer payable as the units are no longer considered new. Is this correct?A) GST is only payable on new items so therefore if you tenant the property and then resell it down the track no GST would not be payable.

Richard, if this is the case, would you still be able to claim the GST input credits (for…[Read more]

Thanks Terry – the link is http://law.ato.gov.au/atolaw/view.htm?locid='JUD/99ATC4242'&PiT=99991231235958Now, as the property is vacant land, as I understand it, the costs of tree removal would be capitalised (and be offset on capital gains), the holding charges would be expensed (against other private income) etc.In order to 'prove my case' ie…[Read more]