CGT Tax Discount - 12 month rule enquiry

Discussion in 'Financial Planning' started by ACH123, 25th Jun, 2019.

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  1. ACH123

    ACH123 Active Member

    Joined:
    7th Jun, 2019
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    Gosford
    Regarding the 12 month rule requirement, does the timeframe start from the date you sign the sale of contract or settlement date?

    And how would the rule apply to options agreement. For example, I purchased a property on 1 May 2019. But on 1 June 2019, I decided to enter an options agreement with a developer, but to settle on 1 May 2021. Would I still receive the CGT discount?

    Hope I can get some clarification on this. Many thanks
     
    ACH123, 25th Jun, 2019
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Terry_w, 25th Jun, 2019
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