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So you’ve found a great doer-upper on a huge block. With a touch of know-how, and plenty of hard work, a property renovation or development can be a great way to make some cold hard cash. Without the correct project structure though, any “profits” can quickly find their way to the tax man. Let’s consider the Goods and Services Tax (GST) implications in this scenario (we will discuss income tax in a future post).
Read MoreWe’re sure you’re aware that in today’s climate making money out of property development can be tough. Plus the uncertainty surrounding the banking royal commission and the looming federal election have only added to the complexities, making the property industry a nightmare if you’re not fully armed with the right information. So here’s a guide to property development, to help you choose a profitable path.
Read MoreThe government has introduced new legislation which brings forward the collection of GST on the sale of new residential premises or new residential subdivisions, effective 1 July 2018.
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