Gday Very new to this gig..we have just built a home and moved into it .our other home is fully vacant. We have owned this land for about one year now built on ..now the plan was to sell the old one but change of plans have begun. We have lived in the new one for about 4weeks .if we sell the new one and move back to the old residents will I get sluged c.g.t I will probably make around 100g .thanks
Hi Matt,
Welcome aboard !! That is a bit of a different scenario, for sure. I don’t know the answer to your question. I do know that if you sell the old one, there should be NO CGT payable. But if selling the new one – ????? Hmmmm.Hopefully one of our more experienced members can shed some light. To that end, my reply will bring your question back into the spotlight as a “new post”.
Out of interest, what led to the change of plans? Was it sudden “exposure” to property investing? i.e. being advised by someone that selling the new might be more beneficial for you.
Anyway, let’s see what happens now,
Benny
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