Viewing 4 posts - 1 through 4 (of 4 total)
If i build 2 homes in a small subdivision, and sell off one of those to pay down the mortgage, is this sale subject to CGT even though i havent exactly made a profit yet?
They are both viewed as seperate events, so if you make a profit on the house you are selling it is subject to CGT
Yes barney
if any profit is made on any sale, it would be subject to the CGT scale.
Percentage payable will depend on if its through a trust or just your name.
HWhat about the obscure possibility that if the land adjoins your principal place of residence.
May not apply to this particular situation but worth canvasing in this post.
Viewing 4 posts - 1 through 4 (of 4 total)
You must be logged in to reply to this topic. If you don't have an account, you can register here.
