All Topics / Help Needed! / CGT question- new house

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  • Profile photo of powderfingerspowderfingers
    Member
    @powderfingers
    Join Date: 2003
    Post Count: 47
    June 12, 2004 - 12:03 pm

    Hi guys,
    We are buying a block of land now in qld and building at some time this year. We are overseas working for a year, and are looking at getting an investment land loan and then a construction loan, we plan to live in the house as soon as we get back. Does anyone know if we would have to pay cgt if we sell eventually? Does having an investment loan affect the house being our ppor?

    Any advise will be appreciated,
    Regards
    Clinton

    Profile photo of powderfingerspowderfingers
    Member
    @powderfingers
    Join Date: 2003
    Post Count: 47
    June 12, 2004 - 1:03 pm

    Thanks Rob, I thought the same but I will
    make sure with the ato.

    Regards
    Clinton

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    June 13, 2004 - 2:02 pm

    If this is your ONLY property, you could probably claim it as your PPOR and pay no CGT.

    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 3 posts - 1 through 3 (of 3 total)

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