Tax on sale after subdivision of long term rental property?

[markstewie]

Hi everyone,

I have a tax question if anyone here can help!?

We bought a property in Auckland in 2011. It was configured as a big five bedroom villa at the front, and a small minor dwelling at the back. We have rented both independently since we bought it.

After...

[ashleyb]

Hey everyone
We're looking at buying a property in Auckland where the current vendors have received RC to subdivide the section at the back of the property. They are planning to build a 2 storey family home there. But they haven't received the new CT for the new section and they have written on...

[ranga]

Hello,

May I know how can I find or calculate subdivided section values? I found a recently subdivided section for buying but no idea about value for tender.

Thanks.

[Curious]

Hi all, I've got a cross-lease property where the neighbour refuses to consent to a conversion to a free hold despite us offering to pay for the conversion and even offering to compensate him for the small shortfall in his section size (as the fence is not exactly in the middle while the title says...

[FreyaE]

We own a freehold property that can be subdivided under the Auckland unitary plan for mixed housing urban, and it is accessed by a shared driveway in which we own a 1/6th share (I'm unclear on legal terminology but the title for the driveway says "Fee simple - 1/6th share").

...

[WHS]

Hello, I look forward to everyone's advice.
We live in a large old renovated house on a 1100sqm corner site in Gisborne, in a suburb where sections and new builds are rare and in demand.
The garden is easily sub-dividable without compromising the main house - approx 450sqm, with its own...

[A&KWatson]

This seems to be the forum that we have been looking for sometime and at last we have found it!

After many years of trying to buy a house in Dunedin we have now decided to up sticks and build in Central Otago. As we are from the UK we have never done anything like this before and will...

[Kdan]

We purchased a property on one title as our family home, after 12 months we divided the house and land into two separate titles. Land and building. We sold one of the properties and continued living in the other one.
I am unsure of our tax obligations.
I have spoken to an accountant who...

[OnTheMove]

Ok my guess is to look for similar land only values in near by neighbour hoods.

Then look at the original house and sum up how much it will cost to renovate and then using Market Value to estimate a value?

Then what stage of subdividing is the most profitable? Council approval,...

[cathy2000]

we bought land and build house on a coastal land already, now we see another for sale which is bigger size, but we were told the land is

46 Rural
we not allow to do subdivision on it.
cant understand , if not allow to, how we bought the land right front water??
just trying to find

...

[FireDragon]

I currently live in Australia but I am thinking to subdivide a land in Auckland. I would like to engage a project management company to do all the subdivision works.

Does anyone have any recommendation?

Thanks in advance.

[Ice man]

Hi all

Took a drive around Huapai over the weekend, mainly Jeroboam street, was amazed at how many houses have been squeezed in there. Quick walk around confirmed mainly Chinese builders finishing up for the day.

Went to a few other open homes around the area, some relatively...

[Maebh]

Hi, am puzzling over a situation with a house I am considering buying and would like others thoughts.

have put a written offer on a house that is for sale by negotiation. Properties in this suburb go for an average 20% over rv. We have made an offer that is slightly above that average....

[NomoneyNotalk]

Hi Property Investors

i bought a rental property that has a subdividable backyard a few years ago. I wanted to build another house on the backyard for another rental. So i started with a surveyor and got resource consent. Then i talked to a builder, and they told me i could start building...

[Button]

Hi there,

I've started looking into subdividing my land, and I see there are lots of companies which offer to do the whole thing for you (e.g., 'wesubdivide.co.nz', keith hay homes). I'm unsure how to get the ball rolling, but from some googling it seems some people recommend first engaging...