Search results

Reply: 4.1 From: Mike . Hi M, I agree that your scenario would avoid CGT. However, there are a couple of details with your scenario that I would like to clarify. 1. You don't have to live in your main residence for 12 months to qualify for the exemption. The ATO has not specified a minimum...

Reply: 3 From: Mike . Hi M, CGT is not a factor when subdividing land because there is no change in ownership. However, if you made a capital gain when selling the vacant block then CGT is payable. Unfortunately, if you sell the vacant block separately, the main residence exemption does not...