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Sorry SS, din't quite understand, what is fte & iee?:rolleyes:

That sounds good, what I wanted to do was turn over a few houses quickly, put the small-ish profits into my own home loan to reduce the debt. This would improve my cash flow sufficiently to consider rental properties and a more profitable long term view. Currently I have enough equity to borrow...

Thanks for that, I thought you still had to pay CGT. The $21k IS Net? so not $21k-$ 6xxx income tax? There has to be a better way than this to build and flip though. Any ideas anyone? Cheers Chris

I'm new to this and want to ask if I am right with the following scenario. If I....... Registered for GST and built for profit. Bought land from a developer (i.e $75,000) Built a house on the land from a contractor ($110,000 inc GST) Held it for less than 1 year, i.e sold it at...