All Topics / General Property / CGT discount

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of hoarelhoarel
    Participant
    @hoarel
    Join Date: 2003
    Post Count: 39
    September 3, 2004 - 1:59 am

    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: [email protected] Web: http://www.changingplaces.com.au

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    September 3, 2004 - 3:33 am

    I think it would be based on the date of the contract of sale of the land.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    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

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.