Hi All
Am meeting with accountant soon, but am curious about this.
I sold 4 properties last financial year, 2 in my trust and 2 in personal names. These were flips, not developments where I have made profits.
My understanding is for the banks to view this as income, I need to consistently being doing this, not a one off, but this is 4 right? so would it be considered income?? very confusing to me
Thanks
MTR
Am meeting with accountant soon, but am curious about this.
I sold 4 properties last financial year, 2 in my trust and 2 in personal names. These were flips, not developments where I have made profits.
My understanding is for the banks to view this as income, I need to consistently being doing this, not a one off, but this is 4 right? so would it be considered income?? very confusing to me
Thanks
MTR