Triplex Development – Zoning

In the last post I introduced my planned triplex development, I skipped over something, why specifically a triplex development?

This comes down to zoning, zoning is one part of the general council’s land use Planning Scheme, in simple terms, zoning determines the minimum land size a dwelling must reside on.

My land is zoned R20/R40, depending on what specific additional requirements are met for each.

Lets use R40, as this allows for more dwellings, to calculate the minimum land size;

1hector /40 = 10000m2/40 =  250m2

Therefore, each dwelling needs to sit on a minimum 250m2 of land.

My land is 911m2, so to determine the number of dwellings;

911/250 = 3.644 dwellings

hence a triplex development.

Triplex Development – Introduction

A few years ago together with the misses, we bought an old house sitting on a decent parcel of land, enough to build three houses when the time came. You can further read about the purchase on our joint blog, “Buying a house and making a home”.

Well the time has now come to start developing, as a first time developer and builder, there will be a lot of learning and experiences which I will document and share, and hopefully it will be useful for others in the same situation.

Some information on the land;

  • 3×1 double brick house
  • Land area 911 metres squared
  • Approximately 18 x 50.3 metres
  • Zoned R20/R40
  • Purchased for $500k

Cloverdale lot diagram and zoning

Calculate Stamp Duty with Excel

A quick post of how to calculate the Stamp Duty of a property with Excel, in my example I am using the Western Australia Residential Rate Dutiable value.

Stamp Duty
Cutoff [$]  Rate [%]  Duty [$]  Formula
0           1.9       0    0
120000      2.85      2280      =C3+(A4-A3)*B3/100
150000      3.8       3135      =C4+(A5-A4)*B4/100
360000      4.75      11115     =C5+(A6-A5)*B5/100
725000      5.15      28452.5   =C6+(A7-A6)*B6/100

Property Value        500000    
Duty                  17765     =VLOOKUP(C9,A:C,3,TRUE) + (C9-VLOOKUP(C9,A:C,1,TRUE))*VLOOKUP(C9,A:C,2,TRUE)/100

Download the Excel WorkBook.

Update, next day
This also works for Individual income tax rates;

Tax Rates            
Cutoff [$]  Rate [%] Tax [$]  Formula
0           0        0        0
6000        15       0        =C3+(A4-A3)*B3/100
37000       30       4650     =C4+(A5-A4)*B4/100
80000       37       17550    =C5+(A6-A5)*B5/100
180000      45       54550    =C6+(A7-A6)*B6/100
Income               100000    
Tax                  24950    =VLOOKUP(C9,A:C,3,TRUE) + (C9-VLOOKUP(C9,A:C,1,TRUE))*VLOOKUP(C9,A:C,2,TRUE)/100