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Partnership to split block

Discussion in 'Development' started by balbriggan, 14th Sep, 2015.

  1. balbriggan

    balbriggan New Member

    Joined:
    14th Sep, 2015
    Posts:
    2
    Location:
    Brisbane
    Hi all,

    New site looks great!

    I have a question similar to one I asked previously.

    I have a partner that is looking to purchase a house with me. The house we have seen is two lots on 1 title. I know we can lodge a form to get the second title created as part of splitting.

    Our plan was to split all costs 50/50 for house purchase, demolition, getting services on the second lot & BCC fees. Once we have two lots ready to build on, we would each build a house to be sold once complete.

    I know we can buy it as individuals or as a trust or company but we're not sure of all the stamp duty / CGT / GST implications & which is the best option.

    I am due to talk to my accountant this week but I thought I'd ask here for any tips in advance.

    Thanks
     
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    9,039
    Location:
    Sydney
    best to talk to your lawyer about a deed of partition. Sounds like it is in QLD so best to talk to RPI - Darryl from the forum.
     
  3. balbriggan

    balbriggan New Member

    Joined:
    14th Sep, 2015
    Posts:
    2
    Location:
    Brisbane
    Yeah, Brisbane. Thanks