澳洲Australia property Capital Gain Tax Question | Sydney


在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo


Hi, I have a PPOR and am thinking of subdividing and building 2 units on the block. I want to know that if I sold one or both, would I have to pay capital gains tax despite the original block being my PPOR?? Thanks for your help.  

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I'm no tax lawyer but here are some thoughts to keep you going until someone brighter comes along. I think you would be able to get a better response if you set out a couple of examples/ scenarios that you might choose to do with this block, eg split keep house sell off land etc. But anyway here are a few thinks to think about
Is it a PRE-CGT land?
The subdivision itself is not a CGT event
However an Improvement, ie building the units may constitute a separate CGT asset
Are you going to live in any of the units prior to sale?
When you subdivide the land then you will have a new cost base, based on valuation. So if after you split them, the spare block is worth 400k that is used as the cost base for CGT purposes as opposed to what the percentage of the original purchase price was.  

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Julia Hartman often writes articles for the Property Investment mags that cover issues such as these. You might find some information on her website: http://www.bantacs.com.au/

PS. This one in particular will probably answer your question:
http://www.bantacs.com.au/booklets/How_Not_To_Be_A_Developer_Booklet.pdf  

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