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Tax (CGT) implication for demolishing owner occupied and building 2 townhouses
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Hi Guys!
Hope all is well.
Just a question on behalf of my mother. She has owned a property in the 3149 postcode since the mid 90s, has always been her home since then.
She is considering demolishing the house
building 2 x townhouses and (A) selling both properties at the same time, or (B) selling one and living in another.
For both scenarios Would she be required to pay CGT on both, one, or none of the sales? If CGT is payable, how would it be calculated?
Apologies if there are other posts with the same requests. Happy to be linked through to those.
Hope all is well.
Just a question on behalf of my mother. She has owned a property in the 3149 postcode since the mid 90s, has always been her home since then.
She is considering demolishing the house
building 2 x townhouses and (A) selling both properties at the same time, or (B) selling one and living in another.For both scenarios Would she be required to pay CGT on both, one, or none of the sales? If CGT is payable, how would it be calculated?
Apologies if there are other posts with the same requests. Happy to be linked through to those.
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