Tax implications on property sub-division and onsell

I am considering purchasing an existing property on a large block of land as an IP, sub-dividing the land into house/land and a separate vacant block, then selling both - hopefully with in 1 year of the initial purchase.

Can anyone please advise the tax considerations / implications I need to take into account in calculating the ROI?
Thankyou in advance. Mondo1
gotta keep it for 1 year at least before its sold so that you halve the capital gains tax on the profit.

not if the profit is assessed on income account. sounds like a profit from an isolated transaction so wondering why someone might think it is on capital account ?