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Forum hypotheticals are helping me learn :) I am worried about my current accountant though....I think I will have to find someone else (little bit sad after 10yrs with the same person!). Thanks for all the feedback guys! :D

Great document - thanks knightm! My problem is that this isn't a once off, this land was bought with the sole intention of subdividing and building on it - but not to sell (at least not for years). I will pull the equity out of each house though. Whether we "regularly subdivide land" or not...

Yep, we've established a restructure is needed. Now I'm trying to work out the best way of moving forward. Should a company be the trustee of the current unit trust? I'm worried this might be beyond my current accountant...

So setting a company up (on Friday) to act as trustee of the trust is the best way forward? And we will be transferring to a company with our business - do we have to create two companies or can we use the same PTY LTD to run the property and the business?

I have a meeting with my accountant on Friday and would like to go into it with my eyes open. What is the definition of an investor as opposed to a developer? I heard that a developer must have intent to sell? What are the different tax implications between the two? Just looking into best set...