Paying Tax when selling Land verses House & Land

Hi All,

Question regarding the difference tax advantages/disadvantages when it comes to selling Land verses House and Land.

I have sub-divided my PPOR and now have a block of land that is pretty much ready to be either built on or sold.  The original block was bought in March last year so I'm pretty close to the 50% CGT waiver received after holding for 12 months.

I'm considering just selling the land (if possible) to make a quick profit and move onto the next project, in doing so i'm not sure how I will be taxed:

1 – Will I still pay CGT if selling Land only ??
2 – Is the CGT different when selling Land compared to selling House & Land, or is it still just charged against the profit made ??
3 – Can I get a waiver in paying the CGT given it was originally my PPOR (in theory I'm only selling part of my PPOR) ??

Additionally, there's approx $35k extra profit in building and selling the House & Land (not considering any Tax payments).  It will take approx 6 additional months to realise these extra profits.

4 – Will the Tax I have to pay on selling the House & Land dramatically reduce my profits, to the point where the pain and effort of building is not necessarily feasible ??
5 – Can I sell the House & Land without paying CGT given it was originally purchased as a PPOR ??

Thanks in advance for the responses you put forward.  I'm now back from holiday's and I'm wanting to engage an Accountant within the Brisbane/Ipswich area who specialises in Property Developments, Sub-divisions and Renovations (PM me if you feel you fit the bill).

Cheers,

Darren