All Topics / Help Needed! / Selling of subdivided property CGT

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  • Profile photo of eyefoureyefour
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    @eyefour
    Join Date: 2008
    Post Count: 6
    September 2, 2010 - 3:44 am

    Hello,

    I have just finished a subdivision and thinking about selling the original house.

     

    Are there any hooks that you have to look out for with the capital gains tax when subdividing? For example the house was purchased for 300K and will sell for around 250K with less land. The new house cost 160K and is valued around 320K.

     

    Profit/Loss:

    Original house -50K

    New house + 160K

    Total +110K

    Thanks

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