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CGT Rollover - Compulsory Acquisition

Newbie

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In regards to CGT Rollover for a compulsory acquisition by Transport NSW of an investment property. Can a property purchased within one year BEFORE the compulsory acquisiton count as the replacement asset?

 

The ATO website states:

 

You must incur at least some of the expenditure (for the replacement asset):

  • no earlier than one year before the event happens, or
  • within one year after the end of the income year in which the event happens.
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Most helpful response

Community Moderator

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Hi @alannho,

 

Thanks for your patience with this one. To give you an accurate answer we would need more information. Our Early Engagement team would love to look into this one for you.

 

Early Engagement

2 REPLIES 2

Former Community Support

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Hi @alannho,

 

We are looking into this and get back to you soon,

Most helpful response

Community Moderator

Replies 0

Hi @alannho,

 

Thanks for your patience with this one. To give you an accurate answer we would need more information. Our Early Engagement team would love to look into this one for you.

 

Early Engagement