Tax Questions Answered

This advice is general in nature and should not be acted upon without first obtaining professional advice on your particular circumstances.Please note that the answers, to other people’s questions, that you see here, are very specific their question. You cannot rely on them for your particular circumstances. Further, if you do askbantacs, before you act on your answer, you need to run it past your Accountant, who will understand the wider implications to your particular situation.

Monthly archives: June, 2010

subdivision implications

Question Hi JuliaI purchased a house on a 1100m2 block of land for 820000 in 5/09, the house is my PPOR, I am planning to subdivide the block which would leave a 400m2 land for development, which I plan to sell, with an approximate value of 600 000, the house valuation stands at 1 300 …

Building house to sell?

Question We are building a house to sell and will have to pay GST and income tax on it as we don’t intend to move in. We have been claiming Gst along the way and have set up an ABN. We have two lines of credit – one for $150000 which covers both our own …

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