I've just read that the ATO only grants the Main Residence CGT exemption to a maximum of 2 hectares of a rural block. If we assume the whole block is 30 hectares of unproductive land and it was valued at $200,000 and I built a home on it, the value would have increased substantially but the land value would have remained the same (as it is a lifestyle block with no productivity). If I then sold it does that mean the ATO would only allow PPOR CGT exemption on 2/30 'ths of the sale price and the rest would incur full CGT?
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