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\\ Yep, got it, perhaps I have got is mixed up not surprising. I am catching up with him over the next couple of month, so much fun.... not.... financial year. Anyway, I am going to be asking lots of questions and post back.

Grey area unfortunately. What my accountant advised is if you are making anything over $75K profit on selling you are seen as a developer. If Stumpie continues to develop as a strategy then ATO will back date and charge interest on GST that is payable. I know someone who got caught out...

That's a good play Oscar, problem is in Perth at the moment the development sites continue to rise, so unless you can look outside the square and do something creative it is difficult to find a development site that stacks up. Not saying its impossible, but its hard work. Stumpies also...

Ditto. The DA/plans are good for 2 years, hold off and see what happens during this period, just rent it out in the interim. If you are lucky enough to achieve growth of end value (villas) during this period, then perhaps review/proceed. Forget 20% profit, you need to be making money...