Forum Replies Created
2 blocks which are narrow and i wish to place 1 townhouse on each. One is 30×11 m and the other about 9 x 37 m. So long and narrow. Need upstair balconies to take advantage of views as well…
I am dealing with quite narrow blocks, one 9m the other about 11m. Hi Kent , Abby I would be quite keen to get those contact details so I can make some enquiries-thanks
Hey guys,
I am about to embark on a subdivision/development involving 2 new 2 storey townhouses and am currently unsure whether to go straight to a builder or a project manager. Can anyone give me some good contacts in Perth- I am preferring a smaller size reasonably priced builder that can handle 2 storey deveolpments and provide a competent level of service. Not asking for much I know….Thanks for the input, and I am factoring in tax details into out feasability study. I aam thinking for the option of selling the land component and then linking the buyer to the building contract. Less risk,outlay and responsability. We ave found a couple of builders who do the whole process from DA application to 3D images of finished products for marketing purposes. There is a precedent in the area of other developers selling land as such through particular builders/agents. So, yes I agree if the price is right a one stop shop is most desirable, particularly one that has experience in this type of development
That is correct. You need to have lived in it INITIALLY for any length of time. If you do this you have up to 6 years to claim it as principal residence,and can rent it over this time too. We have done this whilst renos were done one our main house. You can move back in prior to expiry of 6 years to claim another 6 years of CGT free time. As suggested above,changing mailing address,enrolment etcc.. So in the above case CGT will be payabel on half the profit. But remember if you have bought in joint names then the gain is shared and depending on your annual income, your tax maybe not as much as you think. Of course you could not work one financial year, sell off ,and this would amount to the lowest tax payable.
The other option may be to use the equity in the land to subdivide and build if possible, and sell off portions as you see fit…this would place smaller capital gains every year. Just my thoughts but an accountant should know all the ins and outs….
