CGT on Subdivided Lands when selling one of them

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 · Accepted Answer

Bruce4Tax · Answer

Vacant land becomes a separate CGT asset after subdivision. You will need a retrospective valuation to determine its cost. Then it can take a proportion of buy costs. Land + new building will not have CGT unless it is sold in the future. CGT is complex, so best to go to a local tax agent familiar with property CGT.

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