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PPOR Over Two Titles - CGT?

Discussion in 'Accounting & Tax' started by Bullion Baron, 2nd Nov, 2015.

  1. Bullion Baron

    Bullion Baron Well-Known Member

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    If I purchase a PPOR (on a single title), subdivide the land and then sell both parcels together (but as separate titles) for a profit, do I get the PPOR CGT exemption on both pieces of land?
     
  2. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

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  3. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    You may if the same person buys the 2 titles.
     
  4. York

    York Finance Broker Business Member

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    Yes. But only if you sell them at the same time. Otherwise the block with the house (PPOR) retains the exemption and the other will create a CGT event.
     
  5. Bullion Baron

    Bullion Baron Well-Known Member

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    Location:
    Adelaide, Australia
    Thanks for the replies.