Thanks Amanda, my only doubt was the fact that I hadnt held the BUILDING for more than a year to claim the discount CGT.Regards,Ian

Many thanks for your replies Derek, it is appreciated.
On the point of the 50% discounted cgt, I am reliably informed from the Ato website that the event is deemed to have begun ‘upon the signing of the contracts’. As this was in January and the build should be complete in Feb (ie 13 months) then all things being equal I should be eligible for the…[Read more]

This one I shall be building to sell for cg. Just riding the market at the moment over here, when it settles down i shall look at +ve cf, utitlising the capital built up in the current market.
Regards, Ian

Oh and just one other thing…anyone recommend a good ‘switched on’ accountant in the Perth area?