Subdivision and CGT

Question

Subdivision and CGT

 · Accepted Answer

Bruce4Tax · Answer

- How would you sell one block without completing the subdivision. - Profit making scheme taxed as ordinary income. Value of property prior to starting the scheme is a cost of sales item. GST would apply - See # 2 - for one house only - See # 2 - Block sold subject to CGT - treated as never being part of main residence. You should get proper advice before doing anything.

Explore tax & super topicsExplore tax & super topics

About usAbout us