Delaying payment until a date after property settlement

I was wanting to sell a property prior to EOFY2019/2020 but purchasers requiring delayed settlement due to not having entire amount of funds available by standard 6 week settlement. Am i able to settle in this financial year to reduce capital gains tax, with a clause for residual payment due by end of July?
Thanks

 

You should get some tax advice as it is likely to be the contract date that counts.

 

Thanks Terry. Is the contract date the date that the contracts exchange?

 

generally yes, but not always

 

Thanks Terry. Will seek further tax advice but generally, cgt would be payable for the fy in which the last party signed the contract of sale, regardless of when the money hits the account or the sale settles?

 

Tax Tip 214: At what date is CGT Triggered? Part 1 Tax Tip 214: At what date is CGT Triggered? Part 1

 

If there is a contract. That is usually the relevant date for cgt