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It just gets better..... another tax I had to pay - its calls a contribution tax of $8000 to local council, a nice little earner for them, its calculated on how many units a developer is building and it forms a part payment for infrastructure. Still not sure what it all means, could not start...

It sucks. I have 3 projects now on the go and still looking at what I will keep and what I will sell. There are profits to be made, certainly better than a day job, however its just not an even playing field, as per Rob's post. Developers certainly paying more than others.

Its a little rich that the ATO takes a bite 3 ways, as a developer when selling I have to pay - 1. stamp duty 2. capital gains tax 3. GST at least get rid of stamp duty, biggest rort ever.