Structure to use to purchase potential development site

Hi All,
Been looking to purchase a house with future development potential. Will probably be holding the site for 5-10 years before thinking about development. Not clear what financial situation I will be at in 10 years time, so may develop myself or sell the place to a developer.
Just wondering what would be the optimal structure (capable of handling both sell or self develop situation and optimised for tax considerations) to organise the purchase, i.e. under what names, using trust/company?
Many thanks for your comments.

 

Personal advice is a must in this case. You may or may not be able to claim any interest depending. Also financing could affect this. CGT or revenue basis for income tax is uncertain and could impact as might land tax or other costs. GST could also be a factor.
Also personal situation eg income, spouse or age of kids, might this be a business use dev and involve others etc.

This question does get asked a lot and its like asking for a preferred paint colour. There is no one answer.

 

This is like saying I have a headache and want to know what medicine to take - it most cases it may be the common pain killer medicine but that won't be appropriate in all cases.

 

Concur with the others - depends on strategy and end objectives....seek advice on your strategy now and in long term.

Cheers Ivan

 

See my recent posts on structuring developments - legal section.