Property development in Oz.
 

Hi,
We're hoping to move over to Adelaide in the Autumn. We're going over with open minds on jobs/professions but I will probably continue my current engineering trade and diversify at a later date.

One of the options we are looking at is property development - on a small scale! i.e.buying a house at c$200k and renovating before selling on.
Obviously the Oz housing market is on the wane at the moment so we would have to pick our moment correctly in the future - but it is an option.

So don't know if anyone has experience of this but any guidelines would be helpful. Just looking at alternatives to earning a crust. The only real bugbear from a charges point of view that I can see is the amount of stamp duty that is charged. Don't know what level of tax I would be expected to pay either. :eek:

Thanks in advance for any help.

Re: Property development in Oz.
 

A lot of people have done this, and not paid tax. They live in the house whilst it is being done up, and claim it as a normal residence, therefore tax free :)

Re: Property development in Oz.
 

Yeah but don't you have to be there for a year for that to be the case?

By the way I've found your website very useful.

cheers :beer:

Re: Property development in Oz.
 

If you are coming over as a PR, then there are no time restrictions for this, as far as I know.

Thank's for the comment about the website. It's a useful place for me to file useful information :D

Re: Property development in Oz.
 

If your looking to get into property have a look at www.propertyinvesting.com its a forum simalar to this but with discussions on all aspects of property from buying to doing work, hope it helps.

Re: Property development in Oz.
 

Another forum like that is http://www.somersoft.com/forums/index.php?