Commercial Investor
Scenario
Mr Johns is a self employed Builder who has been in the Building industry for over 5 years. Mr Johns has recently acquired a residential property to develop on which is in an R3 zoning. Mr Johns has not yet completed his tax returns for the recent
financial year.
Hurdle
Mr Johns tax returns have not yet been reconciled by his accountant therefore
cannot provide 2 full years of tax returns. In addition property is zoned commercial.
Solution
Mr Johns was able to settle on the purchase of this commercial zoned
property without providing 2 years tax returns and mitigating with a letter from
his accountant.
