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Just to clarify, when I said 'average' person, I was referring to the fact that pretty much every person fills out their tax return incorrectly, even with the simple things (i.e. what you can and can't legitimately claim for work expenses, working from home expenses, travel allowances etc). It...

They seem like fairly basic considerations for someone doing a development though? Hell, they were the first things I thought of. Surely other people have come across these issues. I understand the merits in seeing a tax specialist - i.e. small cost given the very material impact of...

Thanks for the reply. To clarify, I mean claiming the land using first home owner concessions etc (wouldn't this then be exempt from CGT etc??). Or, if buying a house to develop, claming the first home owner concessions and living in it for 6 months before developing (and then moving into...

Just amended the original post to make the questions a bit clearer. If anyone can shed some light on Options 3 and 4 in particular it would be greatly appreciated! It seems to me that the only way to deal with a lot of the issues in these situations is to treat each final triplex...

Hi all, I'm seeking some guidance on the tax treatment (GST and CGT) of a hypothetical situation. Here are the (simplified) numbers: Land + all purchase costs = $500K Build + all other costs = $700K Total cost of development = $1.2m Say the newly developed triplex units are able to...