|
|
| | Needing extra accommodation for your elderly parents, or need to be close to care for a disabled member of your family? The [https://local.google.com/place?id=7493135432645752390&use=srp&ved=1t%3A65428&_ga=2.189042603.1404963328.1617582308-989699552.1616311879#fpstate=lie sydney bathroom renovators] [https://sbrgroup.com.au custom home builders] granny flat CGT [https://g.page/sbrgroup-com-au?gm Sydney home builders] exemption [https://g.page/sbrgroup-com-au?gm council DA approvals] announced in the October 2020 budget may be the answer. |
|
| |
|
| | Capital gains tax is a key consideration for [https://en.search.wordpress.com/?src=organic&q=families families] when building a granny flat in their back yard – and could be a key drawback preventing families from creating formal and [https://maps.google.com/maps?cid=7493135432645752390&_ga=2.189042603.1404963328.1617582308-989699552.1616311879 council approvals] legally enforceable granny flat arrangements. Are there ways you could build a granny flat to meet council regulations? When you are satisfied your property would be suitable for a granny flat, start thinking about the location on your property of the granny flat and how access to the second dwelling would work. |
| | This exemption will urge people to consider granny flats as an option to care for and keep older and disabled family members closer, without having to consider the possible [https://local.google.com/place?id=7493135432645752390&use=srp&ved=1t%3A65428&_ga=2.189042603.1404963328.1617582308-989699552.1616311879#fpstate=lie plan packages] unfavourable tax consequences of this option. |
| | |
| | Granny flats are a great way to ensure members of your elderly of disabled family can be cared for closely whilst remaining independent. This new legislation may provide possible CGT exemptions, and create a financially stronger option. |
| | |
| | There are several things you do need to consider and be aware of before you start to build a granny flat. |
| | |
| | 1. What are your council regulations for granny flats? |
| | Head to your local council website or visit their planning department to discuss the zoning and regulations you need to build a granny flat. The property must be zoned residential and be a minimum of 450m2. However, other requirements do vary between councils, so you will need to check with your local council. |
| | |
| | 2. Is my property suitable for a granny flat? |
| | After your initial research with the council, does your property meet the regulations for granny flat. Are there ways you could build a granny flat to meet council regulations? When you are satisfied your property would be suitable for a granny flat, start thinking about the location on your property of the granny flat and how access to the second dwelling would work. |
| | A council or accredited certifier can certify your granny flat as complying development without the need for a development application. However, your granny flat must meet specific standards in the State Environmental Planning Policy (Affordable Rental Housing 2009). |
| | |
| | Still not sure whether your property meets council regulations? Call an SBR Group builder on 1300 676 166 now for help. |
| | |
| | |
| | 3. What is your granny flat requirements? |
| | What needs have to be met for your elderly parent or disabled relative to live comfortably and be cared for? How many bedrooms do you need? Will they require special access such as wheelchair access, no stairs, larger shower stall? |
| | |
| | Also, don’t forget to consider their future needs as well. |
| | |
| | 4. Get quotes to build a granny flat. |
| | Now that you have a fair idea of the size of your granny flat that is required, call several Sydney granny flat builders to get average costs to build a granny flat that includes the requirements your family member needs. |
| | |
| | 5. Do you have sufficient money to build a granny flat? |