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Will do. Thanks for your time on this. Much appreciated. It looks like I have some meetings to set up and will advise of the outcome.

That sounds promising. For best advice, would you recommend a specialist solicitor or a specialist tax accountant? I need to find out the best structure to achieve my goals and then if a deed of partition is required, I would need someone to prepare that for me.

I think I found something that may help: http://www.13wentworthselbornechambers.com.au/barlinpdfs/partitioninglandaugust2010.pdf It appears such a transaction may be a CGT event: "This rearrangement and reallocation of the ownership of CGT assets constitutes a disposition of the CGT asset...

I have done some more digging and this is what the ATO says: The date you acquired the subdivided blocks is the date you acquired the original parcel of land and the cost base of the original land is divided between the subdivided blocks on a reasonable basis. For information on what is...

I will be seeking proper tax accounting advice before I make any decisions. I'm just trying to get a feel for the concepts and issues before I talk to my tax accountant. I am looking at three unit site with a retainable, rentable house (at least in the short term). My plan is to develop...