What CGT will I pay on my new PPOR after subdiving an IP?

This thread is archived and the information may not be up-to-date. You can't reply to this thread.

(Newbie)Newbie

18 May 2023

Hi,

I’m looking to purchase a corner lot with an existing dwelling.

I intend to immediately design & build a new dwelling on the back of the lot and subdivide - turning the new dwelling into my PPOR.

Things to note:

To help fund the project and pay the mortgage I would like to immediately rent out the existing dwelling.
I currently do not have a PPOR.
I would like to elect the vacant land/building envelope for the new dwelling as my PPOR using the 4 year rule. (Not sure if this is possible?)

The question:

If I live in my new PPOR for 12+ months upon completion - would the full main residence CGT exemption still apply?

Thanks!!

0 likes

325 views

1 replies

325 views

1 replies

Most helpful response

Most helpful reply

(Taxicorn)Taxicorn

19 May 2023