Small-scale property developments: tax issues
Source: Taxation In Australia Journal Article
Published Date: 1 Aug 2022
Rising property prices in Australia has resulted in an increasing trend of small-scale property developments being undertaken by unsophisticated "one-time" developers. The motivations of these developers are sometimes profit driven, but most of the time they are driven by a desire to own their own home. This article explores the income tax, duty and GST implications of these small-scale property developments. As the article explains, the tax and duty implications of even small, unsophisticated developments can be extremely complicated to work through and very costly for those caught unaware. However, this article demonstrates that, with careful planning, the tax and duty costs may be significantly reduced.
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Details
- Published By: Rajan Verma
- Published On:1 Aug 2022
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