Capital gains tax

CGT not triggered until subdivided land under contract.

Few good articles on Ban Tac Accountants website which are worth a read. http://www.bantacs.com.au/

Cheers

Yours in Finance

Are you registered for GST? Are you part of the Margin Scheme? Is this a one off subdivision and sale? If so, perhaps you could consider applying for a private binding ruling about GST on the sale of the subdivided block. I went through the same exercise and the fact that I had the private binding ruling stating that I was not in the Margin Scheme and this sale was not part of my normal business activities ie a one off was the only thing that stopped the ATO applying GST to the transaction. I am a tax accountant so had done my homework in this respect. I suggest you find someone,  a tax accountant, put the whole scenario to them and ask for a private binding ruling. Bear in mind you will be stuck with the consequences of that ruling even if it does not go your way.

To answer your question, there is insufficient information to give you an idea of the quantum of CGT you will have to pay. Your post should include your normal taxable income also. When you sell a capital gain or loss is calculated. The gain, if any, is applied to your taxable income. So you would need to supply your normal income and the amount of the gain to be able to give a simple answer to the amount of CGT payable. If the time between purchase and sale is less than 12 months any gain is the gain that is used ie no discounts or indexation can apply. NB: Terry is correct, the subdivision is not a CGT event where a gain/loss is calculated.

Good Luck