We have our home on 5 acres on northside of Brisbane. Sub-division applications are currently with the local council for properties either side of us with a road sketched through the centre of our block. This will allow approximately 20 allotments plus the house left on 1300 sq M.
Does anyone know tax implications for this? We could sell as is and no Capital Gains but there may be better returns to sub-divide ourselves.
Any comments for or against sub-dividing?
How come there is a road sketched through YOUR block if the plans are for next door?
Cheers
MelMel,
Our property is the only link between the 2 estates. Rear boundary ajoins parkland and limited access to main road once the estate is completed. The plans submitted by both parties are generally in accordance with an overlay plan the council had done some years ago. The road suggested for our property is just to show the council how the estates on either side could be connected in future. It is the best layout for maximising the use of our land so I don’t really have any objections.
Koopa
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