All Topics / Legal & Accounting / CGT + 12 mths rule – from contracts signed or from settlement?

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  • Profile photo of wisepearlwisepearl
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    @wisepearl
    Join Date: 2009
    Post Count: 264
    November 1, 2011 - 1:25 am

    just a quick question here… the 12 month rule to get a discount on CGT, is it calculated as 12 months from signing of contracts or 12 months of settlement?

    was just wondering about those people who buy off the plan very early on in a development and then may sell upon completion for a profit.

    thanks
    emma

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,213
    November 1, 2011 - 7:55 am

    date of contract.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of wisepearlwisepearl
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    @wisepearl
    Join Date: 2009
    Post Count: 264
    November 1, 2011 - 9:09 am

    awesome, thanks Terry.

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