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Terry, is that because it would be classed as a'business' and you are selling a business, therefore gst would apply to the sale? If you have paid gst on all the items you have purchased can you claim that back on tax?

yes was thinking of doing this as a money making concern. would be interested in how I could do it with least tax involved considering I own my own home (so couldnt claim it as ppr) and other investment properties as well.

If I buy a house and rent it out for 1 year, then reno and sell I know I have to pay 50% of profit to ATO. But what is profit based on, can I claim stamp duty? any renovations? solicitors fees? real estate agents fees?? rates and water rates?