Has anyone subdivided a block of land - shifted the existing house onto one block- held to rent - but sold the vacant land? Do you have to pay GST ( I assume so )
If I were to sell the existing house on one block but kept the Vacant land and put a house on it and rented it - would that get me out of GST??
I am not GST reg but wondered if I were to sell the Vacant land for $300 000 I would be forced into getting reg and wondered if that would affect my future projects of reno and flick ?
Anyone with any experience with this ?
Side note I do have plans to see this accountant that has experience in PI and PD but cant get in till after Christmas .......
Just looking for a discussion - done a search and nothing much came up about GST
If I were to sell the existing house on one block but kept the Vacant land and put a house on it and rented it - would that get me out of GST??
I am not GST reg but wondered if I were to sell the Vacant land for $300 000 I would be forced into getting reg and wondered if that would affect my future projects of reno and flick ?
Anyone with any experience with this ?
Side note I do have plans to see this accountant that has experience in PI and PD but cant get in till after Christmas .......
Just looking for a discussion - done a search and nothing much came up about GST