Total Members: 159,073

Phillyc

  • Phillyc replied to the topic PPoR > IP > PPoR > Subdivision in the forum Legal & Accounting 13 years, 9 months ago

    Is it possible to reset the cost base by moving out and renting the dwelling during the DA process? I hope to be lodging in a matter of weeks.ie When I asked if it was possible to rent the property out again to reset the cost base to today's value. But was told.* There is no possibilityy of “resetting” the cost base as the 6 year rule prev…[Read more]

  • Phillyc replied to the topic PPoR > IP > PPoR > Subdivision in the forum Legal & Accounting 13 years, 9 months ago

    Scott No Mates wrote:
    You'd be best advised to check your numbers Phil, paying cgt is part & parcel of the development and gst is payable as you have 'created' a new lot. Remember that you may also get some input credits for gst and you could also investigate building the new house & a quick reno on the old one to sell it off, possibly keeping…[Read more]

Phillyc

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