Hi all,
If I bought a block of land, held for 12 months with the intention of building on the land. Then built a house on the land and sold. Have I already held for 12 months so therefore receive CGT discount or does it reset for 12 more months after house is built.
Thanks
Luke
ChangingPlaces Real Estate.
Save up to 65% on Real Estate commissions.
Email: yv@changingplaces.com.au Web: http://www.changingplaces.com.auI think it would be based on the date of the contract of sale of the land.
Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.auTerryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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