Tax implications of subdividing PPOR

Discussion in 'Development' started by Sheshop, 15th Jun, 2019.

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  1. Sheshop

    Sheshop Well-Known Member

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    8th Jun, 2019
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    I’m looking at subdividing my PPOR and would like to know if I get any exemptions given I’ve owned the land for more than 12 months or because the vacant land will now become a “new” property on a new title will I need to hold the vacant land for 12 months to be entitled to the exemption?? Any tips?
     
    Sheshop, 15th Jun, 2019
    #1
  2. Terry_w

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

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    See my tax tips, many on this topic.
    Terry's Tax Tips

    If CGT applies then 12 months begins on the contract dates, generally. Subdivision is not a CGT event.
     
    Terry_w, 15th Jun, 2019
    #2
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