Start with the six numbered sections and read the five key results at the top. / 按顺序填写六个编号区域，再查看页面顶部五项核心结果。
All numeric fields start at zero and are saved automatically in this browser. Enter project, tax and finance assumptions before relying on the results. / 所有数字字段初始为零，并会自动保存在当前浏览器中。使用结果前，请填写项目、税务及融资假设。
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1
Define the project / 定义项目Enter the location, project type and estimated programme. / 填写州、项目类型和预计开发周期。
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2
Enter land and development costs / 填写土地及开发成本Enter the land price, GFA, construction rate, civil works and authority costs. / 填写土地价格、总建筑面积、建造单价、土木工程及主管部门费用。
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3
Estimate revenue / 估算项目收入Enter the number of saleable units, average sale price and any other revenue. / 填写可售单元数、平均每单元售价及其他收入。
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4
Set finance and selling assumptions / 设置融资及销售费用Enter LTC, Loan to GRV, interest rate, loan fee and selling costs. / 填写 LTC、贷款占 GRV 比例、利率、贷款费用及销售费用。
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5
Review results and downside risk / 查看结果及下行情景Compare Profit on Cost with your target, then review the sensitivity tables. / 将成本利润率与目标回报比较，再查看敏感性分析。
How to Read the Main Results / 如何理解核心结果
- GRV
- Gross Realisation Value: total expected value from sales and other revenue. / 总实现价值：预计销售及其他收入的合计。
- TDC
- Total Development Cost: acquisition, development, selling, GST and finance costs. / 总开发成本：收购、开发、销售、GST 及融资成本合计。
- Development Profit / 开发利润
- GRV minus TDC. / 总实现价值减去总开发成本。
- Profit on Cost / 成本利润率
- Development Profit divided by TDC; commonly used to assess development returns. / 开发利润除以总开发成本，是常用的开发回报指标。
- Residual Land Value / 土地剩余价值
- Maximum land price supported while achieving the selected target return. / 在达到所选目标回报率时，项目可支持的最高土地购买价。
Finance Settings / 融资设置
LTC is the loan as a percentage of eligible project cost. Loan to GRV is the loan as a percentage of GRV. The calculator uses the lower of these two facility limits. / LTC 是贷款金额占可融资项目成本的比例；贷款占 GRV 比例 是贷款金额占总实现价值的比例。测算器采用两项贷款上限中较低的一项。
Equity Required is TDC less the calculated loan amount. Interest is estimated from the project timing and staged debt drawdown. / 所需自有资金为总开发成本减去测算贷款金额；利息根据项目周期及分阶段提款进行估算。
GST and Transfer Duty / GST 与土地转让税
Sale prices are entered GST-inclusive. For an initial screening, keep the default GST setting only when it matches your expected tax treatment. / 销售价格按含 GST 金额填写。只有当默认 GST 设置符合项目预计税务处理时，才可在初筛中保留默认值。
Automatic Transfer Duty currently uses QLD general rates only. For other states or complex acquisitions, enter an estimated rate or a confirmed manual amount. / 土地转让税自动计算目前仅采用昆士兰州一般税率。其他州或复杂收购应输入估算费率或经确认的手动金额。
Decision Guide / 初步判断方法
Target Met / 达到目标The selected return meets or exceeds the target. / 所选回报指标达到或超过目标。
Below Target / 未达到目标The project is profitable but below the selected target. / 项目仍有利润，但未达到所选目标。
Not Feasible / 不可行The current assumptions produce a development loss. / 当前假设下项目产生开发亏损。
Important / 重要提示
This is a screening model, not tax, legal, quantity surveying or lending advice. Confirm material assumptions with qualified advisers before making an acquisition decision. / 本工具仅用于项目初筛，不构成税务、法律、工料测量或融资建议。作出土地收购决定前，请由专业顾问复核重要假设。