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Thanks for the TD. my interpretation of the TD is that complete 2009/2010 normal tax return. Within 1 month of settlement of contract (2011/2012 tax year) send an amended 2009/2010 tax return. Can someone confirm? Also any interest accrued would not have to be paid? Can you briefly explain how...

i have calculated the capital gain and it is about $610,000 under 4 names. Tax will be approximately $226,000 on top of their normal PAYG. How do you fork out $226,000 before you receive the money? seems unreasonable and we just dont have that money around. Will definitely go see a...

i probably didn't give enough information the developer can still pull out of the contract for up to 2 years, if he cannot get the DA approval etc. So that could mean we would only receive say the non-refundable deposit and nothing else, but once the 2 years are up, then he has to pay the...

hi, my family is selling a property to a developer. if he gets a 10% deposit in 2009/2010 year and say the remainder (settlement) in the in the next financial year. for capital gains purposes is the income separated into each financial year??