as far as the capital gains issue goes – I have done some more research and believe that this is now the case: selling a company title duplex is the same as selling shares in a company (i.e. normally you would be liable for CGT but not pay GST on any profit made) The difference perhaps with company title is that you can get a solicitor to draw up…[Read more]

Hi Satcha

Good to hear I’m not the only masochist trying to take a project like this on!

As far as who we will get to build our duplex – I’m not exactly certain. We have a draftsperson doing up some plans – we will then get them costed and get some building quotes to make sure we can afford to do it that way. If it all seems to be too expensive…[Read more]

Looking into it a bit further – it seems that if I want to sell my half of the duplex, I would sell my shares in the company that owns the title to the land. I would still be liable for Capital Gains Tax but could be eligible for a 50% discount if I had the shares for more than 12 months?

Thanks for the advice guys. I will meet with my accountant next week and make sure he is OK with the figures. Looks like it should be OK to go ahead – I have run some of the figures through an excel spreadsheet/software called ‘Feasability’ and between my worst and better case scenarios I am looking at a net profit after selling costs etc of…[Read more]