hi,
have read thru previous posts before about intent as a key point (but not only factor of course) when being considered an investor or a developer.
can anyone give some thoughts about this scenario:
want to build a few units with intent of holding for rental income and CG. However, banks require me to pre sell a couple units as a condition of the loan.
since the pre-selling part is a term imposed by lender and if given the chance i would like to hold all units.... where do i fall in the ATO's eyes? developer or investor? GST implications?
thanks very much.
have read thru previous posts before about intent as a key point (but not only factor of course) when being considered an investor or a developer.
can anyone give some thoughts about this scenario:
want to build a few units with intent of holding for rental income and CG. However, banks require me to pre sell a couple units as a condition of the loan.
since the pre-selling part is a term imposed by lender and if given the chance i would like to hold all units.... where do i fall in the ATO's eyes? developer or investor? GST implications?
thanks very much.