Property Development North Lakes

Property development in North Lakes can be a risky business, so why not protect your investment by lowering your tax obligations? Unfortunately, taxation law has become extremely complex, so you should consult with Property Development Tax professionals. Total Business Partners will ensure that your company has the knowledge it needs to make the best decisions and get the most out of its investment.

Please visit our pages for property development in Brisbane, Sunshine Coast and Redcliffe.

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How to structure your real estate investing

We can show you how to structure your real estate investments to reduce taxes, maximise returns, and protect your assets. This includes the following:

  • Reducing capital gains tax
  • Which structure is best to protect property and other assets?
  • Should I rent or live in the property?
  • Going Overseas – what are the tax implications?
  • Minimising Tax
  • Realising a capital gain instead of taxable profit
  • Subdivision, GST & property sales
  • What are the tax implications when transferring property?
  • Renovating a property and GST implications
  • Joint ventures
  • Cash flow
  • Utilising superannuation

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Learn More about Taxation

How are property developments taxed?

Property developers are subject to capital gains tax. This is because they make money by working with real estate (capital assets). As a result, any profit made from the capital asset is considered income.

One way to reduce your tax is to live in the property as long as it is your primary residence. However, taxation is highly individual, so it is worth contacting a specialised property development accountant who will be able to guide you through the legal steps to reduce your tax obligations.

Should I rent or live in the property?

Choosing whether to live, rent, or sell a property can be a difficult calculation to make in order to achieve the best long-term outcome. While it may be advantageous to live in the property and sell it as your primary residence, there may be additional taxes and fees to consider when making that decision.

Taxation can be extremely complicated, so it is critical to contact the right accounting professionals to save you time and money in the long run.

Why should you hire a specialised Property Development accountant?

A specialised property development account in North Lakes will understand your tax obligations and the best structuring strategies to get you the best financial outcome possible. They can also assist you in determining the financial viability of your projects.

Furthermore, mistakes are easy to make, especially when taxation is so complex and there are so many options. Should you rent, sell, or purchase your assets? Should you live in your property in order to avoid paying property taxes? These are the everyday issues for which Total Business Partners has the best solutions.

Hiring a specialised property development accountant also ensures that your tax obligations are met in accordance with Australian laws, giving you complete peace of mind. They will also make certain that you take advantage of any available tax breaks and government initiatives.

Why choose Total Business Partners?

Total Business Partners has a specialised team of property development accountants with extensive experience, providing you with unrivalled service as well as the right advice to minimise your tax obligations.

Our local team is up to date on taxation laws, government incentives, and other initiatives to assist you in making the most of your assets. Furthermore, we make certain that everything is explained clearly so that you can save time and money.

How to get the best financial advice for property development in North Lakes.

If you’re a property developer in North Lakes, you know that financial planning and management are critical to your success. However, finding the right financial advice can be a daunting task, especially if you’re not familiar with the intricacies of the industry. That’s where Total Business Partners comes in. We are a team of experienced financial experts who specialise in providing tailored solutions to property developers in North Lakes. Our services are designed to help you make the most of your investments while minimising risks and maximising profits. Take a look below at a few of the key factors that we believe are essential for a property development financial strategist in North Lakes. 

Expertise: Look for professionals with extensive knowledge and experience in property development in North Lakes. They should have a solid understanding of industry trends, regulations, and challenges.

Qualifications: Seek professionals with relevant qualifications and certifications in accounting, finance, and property development. Look for those who are members of professional bodies in their field.

Experience: Choose a service provider who has a proven track record of success in working with property developers in North Lakes. They should be familiar with the unique requirements of the industry and have experience in dealing with the challenges that arise.

Communication: Look for professionals who are responsive, clear, and concise in their communication. They should be able to explain complex financial concepts and regulations in a way that is easy to understand.

Costs: Consider the fees charged by different service providers and compare them against the quality of their services. Look for transparency in pricing and make sure you understand what is included in the fee.

Financial reporting for property development in North Lakes.

At Total Business Partners, we understand the importance of accurate financial reporting for property developers in North Lakes. Our team of experienced accountants can provide you with guidance on how to prepare financial statements, manage your cash flow, and comply with accounting standards.

We are committed to helping you maintain a strong financial position, make informed business decisions, and achieve your long-term goals. With our expertise in financial reporting, you can rest assured that your financial statements will be accurate, reliable, and compliant with all relevant regulations.

Contact us today to learn more about our financial reporting services and how we can support your property development business.

Staying compliant with property development in North Lakes.

At Total Business Partners, we understand that compliance can be a complex and overwhelming area for property developers in North Lakes. That’s why we offer our expertise and knowledge to help you navigate the regulatory landscape and ensure compliance with all relevant regulations.

From planning and building regulations to environmental regulations and taxation, our team can provide guidance on how to ensure compliance and avoid penalties. We understand that non-compliance can have serious consequences, including fines and legal action, so we work with you to develop strategies to minimise risk and maintain compliance.

Focus on your property development, we’ll take care of the financials.

Our team of experienced professionals can also assist with managing compliance-related paperwork and submissions, freeing up your time to focus on other areas of your business. We can help you stay up-to-date with changing regulations and provide ongoing support to ensure ongoing compliance.

Don’t let compliance become a burden on your property development business. Contact Total Business Partners today to learn more about how we can help you stay compliant and avoid unnecessary risk.

Property Development FAQs

What are the tax implications for transferring property?

When you transfer property to family or friends, there may be tax consequences, especially if you do so for less than market value. For example, if you sell, transfer, or gift your property to family or friends for less than it is worth, your capital gains tax (CGT) will be calculated based on the property’s market value.

However, if the property was your main residence, then you can claim the main residence exemption from Capital Gains Tax.

To find out more about transferring property to family or friends, visit the ATO website.

Can I reduce my Capital Gains Tax?

Capital Gains Tax (CGT) is paid when an asset is sold for a profit. When an asset is sold at a loss, it is converted into a capital loss that can be offset against capital gains. When you sell a property that is not your primary residence, you must pay CGT (assuming it was sold for a profit). Furthermore, if you sell your property for less than market value, CGT is due at market value. This prevents people from selling below market value to friends or family.

There are a few ways to reduce your capital gains tax, such as living in the property; however, the property must be eligible. Contact Total Business Partners today to learn how we can help you reduce CGT and make the most of your assets.

Are property development costs tax deductible?

Yes. Property development costs are tax-deductible as long as the property is not your primary residence. Furthermore, depending on the age and type of asset, any assets you own may be depreciated. This can significantly reduce your tax liability.

What is the best structure for property development?

The best structure for property development will depend on your specific circumstances and goals. Typically, property development involves a significant amount of risk, and you want to ensure your assets are protected.

One common structure is setting up a company or trust, which can provide asset protection and limited liability. Another option is a joint venture or partnership, which allows you to pool resources and share the risk and rewards. It’s important to speak with a qualified professional, such as a lawyer or accountant, who can advise you on the best structure for your property development project.

What are the risks of property development?

Property development can be a lucrative business, but it’s not without risks. Some of the most common risks include delays in construction, cost overruns, unexpected site conditions, and market downturns.

These can all lead to significant financial losses if not properly managed. Additionally, property development is highly regulated, and failure to comply with local regulations can result in legal and financial consequences.

Finally, there’s the risk of not being able to sell or rent out the finished development, especially if market conditions change. Proper risk management and due diligence are critical to minimising these risks and ensuring a successful property development project. At Total Business Partners, we can help you navigate the property development landscape and give you the best chance for financial success.

How do property developers get finance?

Property developers can obtain financing from a variety of sources, including banks, private investors, and crowdfunding platforms. To get financing from banks, developers must typically provide a detailed business plan, financial projections, and security for the loan.

Private investors, on the other hand, may be more flexible in their requirements but may demand higher returns. Crowdfunding platforms offer another avenue for developers to obtain financing, with investors contributing smaller amounts to the project in exchange for equity or a share of the profits.

Regardless of the source, property developers must ensure they have adequate financing to cover all aspects of the project, including land acquisition, construction, and marketing costs.

Sunshine Coast Property Development location

North Lakes Property Development location

View our selection of additional services that we offer in North Lakes to promote success.

At Total Business Partners, our motivation comes from seeing our clients succeed. We strive to deliver the highest level of service and are Xero certified accountants with expertise in structural business planning and financial management. Our exceptional services are offered throughout North Lakes and the wider Brisbane region, plus, the beautiful Sunshine Coast.

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