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Are you in the business of renovating properties?

Work out if your renovation is classified as 'a profit-making activity' and how it may affect your obligations.

Last updated 9 June 2020

If you renovate one or more properties, you need to work out if you:

  • are in the business of renovating properties
  • are carrying on a profit-making activity of property renovations, also known as 'property flipping'
  • are a personal property investor
  • have undertaken renovations that constitute substantial renovations.

Your conclusion will affect your tax obligations and entitlements.

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See also

  • To decide whether or not a property has been substantially renovated, read from paragraph 53 of GSTR 2003/3: Goods and services tax: when is a sale of real property a sale of new residential premises?