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worst outcome seems to be on the table. despite the council telling me prior to my purchase that they would support subdivision, they have now had a change of policy half way thru my application. So they have taken my substantial application fees and kindly told me that they won't approve the...

when I cut my teeth on dev resis we used small builders. The first one was so hopeless he nearly sent me to the wall. I could have built the place by hand quicker than he, his paperwork was a shambles and I am still not sure if it was a cover to extract more $'s - possibly both and he was...

busso. there has been such an outcry from resdents that there is some meeting of council on monday to consider the issue... fingers crossed. The situation, as is, effectively prevents any construction of any sort in quindalup for the next 5 years - clearly a ludicrous situation.

what a day... picked up the mail and got the API magazine, read abit about how easy it is to be a developer. Then got a call from the builder of one of my res devys... pretty much saying that after the council consulting the neighbours for 3 weeks and them about to rubber stamp approval...

Tax: thats fine if you dont mind the profits stuck in a company. If you cant manage to expense your profits indefinitely the PAYG instalments will soon shoot your cash flow. IMO i cant see how you can get ahead too easily by the time you have paid your 1/11th GST and ok say 30% corp tax that...

the tax is pretty straight forward... CGT no longer applies and it is assessed at normal tax rates. in simplistic terms, 1/11th of the profit would need to be paid as GST (withthe 10/11ths being assessed as income)

IMO - because the tax system punishes developers so heavily vs investors, I believe that unless you are doing say 40+ units a year you are better off keeping a day job and being a passive investor. Development is capital consuming, risky and stressful. can be very rewarding too tho.