How soon can you sell an apartment after settlement?

Hi all how soon can you sell an apartment after settlement?

And is there any costs involved for example if you wanted to sell after settling or waiting 6 or 12 months?

Any advice would be great.

Thank you

 

The minute after you settle if you want.

CGT would be the only real cost that would be affected by the length of time and if it's PPOR or IP, which one is it?

 

Hi,

It would be an IP.

 

You can sell OTP - Off the plan prior to settlement of the acquisition or you can sell after you acquire it. Your solicitor would have a different approach to each option.

Selling costs vary with the approach and may include legals, agent costs and the like. Taxation would follow too.

 

I can't onsell as i am a nominee. Have to wait till settlement.

Just wondering what tax Id have to pay on the apartment if I sold after settlement... hmm.

 

Next day . If you make a profit , that would be added to your top marginal rate .

Cliff

 

Depends. Under general CGT principles need to look at your interest and whether it is eligible for a discount. What is the costbase, selling costs and what is the profit. Other income ?

Its also possible its not a CGT interest too if you acquire in a speculative manner anticipating profit. No discount. Tax on the whole profit.