Called the ATO today…

Spoke to a fellow who initially gave me some hope. He thought that I may be exempted because I had not bought a home in the meantime, and particularly because I am considering purchasing another vacant block to replace it.

He put me on hold to check some scripts and to speak to his superior. Apparently he tried to sell…[Read more]

100% discount is better. ;)

Damn it! Cant catch a break.

Hmm,no benefit there for me… However, I wonder if I can defer the CGT event and buy another piece of land (rolling over?) and build my primary residence on it, effectively avoiding the CGT altogether.

Thanks for your input, Dean.

The land is only 4.5 acres.
I believe that of I were to put a dwelling on it, that it would be exempted. However, I don’t want to go through the whole building process, in the hope that I can recoupe the building costs, as well as the value of the land.it may well end up a waste of alot of time and money and…[Read more]

Thanks crj,

I thought as much… Damn you ATO!!

I wish they wouldn’t consider it an investment, considering it is the only property I own. Oh well…