Subdivision and tax

Hi all. The plans to subdivide my corner block and build on the back are now with council. Finance is sorted with a loc to cover subdivision costs and additional finance to cover construction costs. All is looking good.

Is there any other traps to look out for tax wise ? I'm assuming a valuation of the new property and the existing property would be required and also a new depreciation schedual allowing for the new property and the changes( if any) to the original one. Any other things I should be aware of ?

Cheers
 
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