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I was wondering using the strategy – buy, renovate and sell… do normal CGT rulings apply? Is it 100% if you dont hold it for 12 months ?
CGT is a process applied to the buy and sell of all assets.
If you are renovating some of the capital costs of the renovations can be used to offset profits made – Eg you put in a new $20K kitchen – then your taxable gain is reduced by $20K.
Viewing 2 posts - 1 through 2 (of 2 total)
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