I purchased a block of land in 2022 and started building the house in 2023 and it is still ongoing. Due to current financial circumstances I have to sell the house as soon as it is completed. Does the CGT 50% for owning the property for 12 months start from the date of land purchase or date of house completion?
Hi Jason
The date of land purchase.
Be aware that if you sell straight away you may have to charge GST on the sale as new residential property
Toby
Hi Jason
The date of land purchase.
Be aware that if you sell straight away you may have to charge GST on the sale as new residential property
Toby
Why would GST be payable if the property is a capital gains tax asset? Would not GST only apply to a commercial fully taxed translation?
21 May 2026 · 4 min read time
15 Apr 2026 · 8 min read time
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