Hello Everybody,
(i.e. ATTENTION... Dale !!!)
OK... here's the example... But please note... I've used round numbers that are close to actual numbers... and I've excluded buying, selling and holding costs... So here goes...
Example...
Land bought for $ 300,000 (bought on margin scheme)
House built for $ 300,000 (assume $30,000 of GST in supply)
Cost $ 600,000
Sells for....... $ 800,000
Profit ------------- $ 200,000
Ok.... so what does the investor make $$$ after GST ????
(i.e. ATTENTION... Dale !!!)
OK... here's the example... But please note... I've used round numbers that are close to actual numbers... and I've excluded buying, selling and holding costs... So here goes...
Example...
Land bought for $ 300,000 (bought on margin scheme)
House built for $ 300,000 (assume $30,000 of GST in supply)
Cost $ 600,000
Sells for....... $ 800,000
Profit ------------- $ 200,000
Ok.... so what does the investor make $$$ after GST ????