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CGT advice - planning to build on a block of land.

newy777 [6 Posts]

Submitted by newy777 on May 13, 2008 - 9:13pm.

Joined: 13/02/2008

Hey,
If there is any advice that anyone could give me about this situation ,it would be much appreciated.
My brother ,father and I are planning to build a new house on a block of land we own. I would like to know at what point can we sell the house and only incurr the CGT on 50 % of the profit. Is it 12 months from when we start to build or 12 months after it is finished and been rented for 12 months?

Also what do people think of the Innisfail area for builings new houses?
Thanks Ty


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