Tax on the land bought through the change in Nominee

Hi
A made the contract to buy a land in Jan 2017 but couldn't settle. So he sold to B in Jan 2018 through the change in nominee in the same price. The title was released then and B made settlement of the land in Feb 2018 and sold with capital gain of $50000. How B will pay CGT? The contract date was Jan 2017, so he will pay only 50% of his gain or he will pay 100% of his gain because his nominee date was Jan 2018?
Thanks in Advance.

 

If 12 months between him contracting and nomination then the 50% CGT discount could apply.

 

Small unmarked bills preferably.

 

B will have to work out his cost base.

 

ATO dont accept cash.

 

B will get 50% CGT discount or not?

Thanks in advance.

 

B will get 50% CGT discount or not?
In the scenario, A made contract one year before, changed nominee and sold/ gave it to B in the same price. B then did settlement of the property and sold.

 

depends when he sells.

 

Depends on a number of factors
- When sale is made
- If the sale was a profit making transaction v's a CGT realisation (probably)

Not all asset sales are a CGT event. And then it depends which CGT event.

My quick answer is no. Tax advice may say its yes.

 

Trick question ?? If sold for the same price. Isnt there a CGT loss after legals etc ?? CGT losses arent discounted.