Hi everyone,
Long time stalker, short time poster....lol
Anyway, I'm curious as to what structures people are using to build/develop/sell/hold the projects with?
Individual/trust/company?
I understand that every persons own situation is different, but I have a new project and want to make sure I set it up properly from the start in relation to asset protection and legally minimising tax.
Basically there is a block owned by X and I am demolishing the existing house and building 2 new town houses side by side, One for the owner and one for myself. The construction of the townhouse for X forms part of the payment for the land.
There should be about $180k - $250k in profit for the project.
Obvious 2 options are
1. Sell, pay tax and move on to the next project
2. Rent out, refinance and move on
Basically I'm just seeing what other people have done or can advise what they think would be the best scenario.
Obviously I will be getting professional advise from my accountant. (That needs updating too)
Any help much appreciated. Cheers
Tim
Long time stalker, short time poster....lol
Anyway, I'm curious as to what structures people are using to build/develop/sell/hold the projects with?
Individual/trust/company?
I understand that every persons own situation is different, but I have a new project and want to make sure I set it up properly from the start in relation to asset protection and legally minimising tax.
Basically there is a block owned by X and I am demolishing the existing house and building 2 new town houses side by side, One for the owner and one for myself. The construction of the townhouse for X forms part of the payment for the land.
There should be about $180k - $250k in profit for the project.
Obvious 2 options are
1. Sell, pay tax and move on to the next project
2. Rent out, refinance and move on
Basically I'm just seeing what other people have done or can advise what they think would be the best scenario.
Obviously I will be getting professional advise from my accountant. (That needs updating too)
Any help much appreciated. Cheers
Tim
