Hi,
We have owned an investment property for just over two years and it has been rented the whole time. It is a large (809sqm) block and we have decided to split it into two 405sqm blocks to add some value. The existing dwelling will be shifted to one of the blocks and will remain an investment property. We will then build our PPR on the vacant block. If we decide to sell the investment property within the first 12 months would we be subject to capital gains tax for the full amount or because we have had the investment property for over two years would be be entitled to the 50% discount. My broker believes we should get a discount as we are simply renovating the property and have held for more than 12 months but im unsure. Thanks
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