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What CGT will i be up for if i subdivide and sell off the vacant block off the land but still keep the existing IP on the other block? (QLD)
therock1 wrote:What CGT will i be up for if i subdivide and sell off the vacant block off the land but still keep the existing IP on the other block? (QLD)
I'm not an accountant, however I have done this myself and found it's rarely that simple, but all else equal you should pay CGT on the value of the land at the time of sale. The value of the land should be determined as "fair market value" for land of that size in that area.
see the pdf booklets on http://www.bantacs.com.au
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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