Hi,
I am looking to sell some apartments in Melb off the plan.
I am trying to work out the expenses/profit margin roughly.
My understanding is that:
- 2%-2.5% to RealEstate agent (paid on sale out of my pocket pre settlement?)
- 10% of settlement price is paid to gov in GST (but then I get back the GST from the build?)
- Council contribution on finished build pre settlement?
- Tax on net profit at the tax rate? (split the sales over two financial years to minimise this?)
- Any other costs to consider?
Thanks
I am looking to sell some apartments in Melb off the plan.
I am trying to work out the expenses/profit margin roughly.
My understanding is that:
- 2%-2.5% to RealEstate agent (paid on sale out of my pocket pre settlement?)
- 10% of settlement price is paid to gov in GST (but then I get back the GST from the build?)
- Council contribution on finished build pre settlement?
- Tax on net profit at the tax rate? (split the sales over two financial years to minimise this?)
- Any other costs to consider?
Thanks