All Topics / Legal & Accounting / How do i minimise income tax?
when doing a development, how do i minimise tax after the sale of the 2 units?
For argument sake, if i make 100k on a development after GST CG. I would be then in the highest tax bracket. How do i avoid this ? CAN i avoid this ? Or at the very least how do i minimise that tax?Am i able to sell one unit and keep one therefore leaving me in debt and having no relised profit?
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
anyone out there?
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
Giulio,
You should consult an accountant for structuring before entering into a property development.
Things that need to be considered :
1. Who will be the landholder;
2. Who will be the development entity;
3. Do you wish to retain any of the completed development or another party will retain the development;
4. Is the land pre or post CGT;
5. Will the development be on revenue or capital account.Discuss with your accountant.
1. Trusts;
2. Deeds of Partition;
3. Income vs Capital dichotomy;
4. Trading Stock Provisions;
5. Stamp Duty.and a better way of asking the same question is
HOW DO I MAXIMISE MY PROFITS ON THIS DEVELOPMENT
that way the ATO dosent start jumping up and down
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
[email protected]
phone 0412 437 582kewl, i like it when things are simplified. Sometimes when you think about things too much you comlicate them more than they should be. Unfortunatly i do that quite a bit.
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
Originally posted by Dr.X:and a better way of asking the same question is
HOW DO I MAXIMISE MY PROFITS ON THIS DEVELOPMENT
that way the ATO dosent start jumping up and down
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
[email protected]
phone 0412 437 582[biggrin][biggrin][biggrin][biggrin][biggrin][biggrin]
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