Hi All
Have had conflicting information and need some advice as I am confused.
I purchased a house 6 months ago, will be demolishing the house, splitting the block in 2 lots, would I pay GST on selling the 2 blocks??
If I decided on another option where I only sold 1 block and built on the other, what then?? GST on the build but what about the block/land I sell??
Also, as I have a number of projects on the go I would fall under the category of developer.
Thanks
MTR
Have had conflicting information and need some advice as I am confused.
I purchased a house 6 months ago, will be demolishing the house, splitting the block in 2 lots, would I pay GST on selling the 2 blocks??
If I decided on another option where I only sold 1 block and built on the other, what then?? GST on the build but what about the block/land I sell??
Also, as I have a number of projects on the go I would fall under the category of developer.
Thanks
MTR