Hi guys, I have some questions in regards to CGT. We are currently building 3 townhouses on a large block of land. The land is currently owned by our family trust with a corporate trustee. I was wondering how does the CGT work when it comes to such developments. For example, let's say the land was acquired for $1m a while back, construction cost and permits etc another $1m. We intend to move into one of the units and sell the other 2 for $1m each. Assuming equal value for all units, my capital gains will be $2m (2 units) - $666,666 (2/3 land cost) = $1.33m? Can we take into consideration construction cost as well to calculate capital gains? Meaning $2m - $666,666 (2/3 land cost) - $666,666 (2/3 construction cost) = $666,666? Then the $666,666 will be distributed to me and wife to be taxed. GST will be $2m - $1m = $1m * 1/11 = $90909.00 Is this the right idea? Just need some guidance before meeting my accountant. Thanks.