Property Development Redcliffe

Redcliffe property development 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 seek the advice of Property Development Tax experts. Total Business Partners will ensure that your company has the knowledge it requires to make the best decisions and maximise its investment.

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

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How to Plan Your Real Estate Investing

We can show you how to structure your real estate investments so that you pay less tax, earn more money, and protect your assets. These are some examples:

  • 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?

Capital gains tax applies to property developers. This is due to the fact that they make money by dealing with real estate (capital assets). As a result, any capital asset profit is considered income.

Living in the property as your primary residence is one way to reduce your tax. However, because taxation is highly individual, it is worth contacting a specialised property development accountant who can walk you through the legal steps to reduce your tax obligations.

Should I rent or live in my property?

To achieve the best long-term outcome, deciding whether to live, rent, or sell a property can be a difficult calculation to make. While living in the property and selling it as your primary residence may be advantageous, there may be additional taxes and fees to consider.

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

Why should you work with a Property Development accountant?

A Redcliffe property development accountant will understand your tax obligations and the best structuring strategies to get you the best financial outcome possible. They can also help you assess 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 lease, sell, or buy your assets? Should you live in your home to avoid paying property taxes? These are the common problems that Total Business Partners has the best solutions for.

Hiring a specialised property development accountant also ensures that your tax obligations are met in accordance with Australian laws, allowing you to relax. They will also ensure that you take advantage of any tax breaks and government initiatives that are available.

Why choose Total Business Partners?

Total Business Partners has a specialised team of property development accountants with extensive experience who will provide you with unrivalled service and the right advice to minimise your tax obligations.

Our local team is knowledgeable about tax laws, government incentives, and other initiatives that can help you make the most of your assets. Furthermore, we ensure that everything is clearly explained so that you can save time and money.

Property Development FAQs

What are the tax implications of property transfer?

There may be tax consequences if you transfer property to family or friends for less than market value. For example, if you sell, transfer, or gift your property to family or friends for less than its market value, your capital gains tax (CGT) will be calculated based on the market value of the property.

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 get a tax break on my capital gains?

When an asset is sold for a profit, Capital Gains Tax (CGT) is due. When an asset is sold at a loss, it becomes a capital loss that can be used to offset capital gains. You must pay CGT when you sell a property that is not your primary residence (assuming it was sold for a profit). Furthermore, CGT is due at market value if you sell your property for less than market value. This prevents people from selling at a loss 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 find out how we can assist you in lowering CGT and making the most of your assets.

Are property development costs tax deductible?

Yes. As long as the property is not your primary residence, the development costs are tax deductible. Furthermore, any assets you own may be depreciated depending on their age and type. This has the potential to significantly reduce your tax liability.

Sunshine Coast Property Development location

North Lakes Property Development location

Take a look at some of the additional services we offer in Redcliffe 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 professional services are provided throughout Redcliffe and the wider Brisbane region including North Lakes, as well as across the Sunshine Coast.

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