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Since we're doing pretty much the same thing, we're planning to build a new PPoR on the vacant block. Hard part is funding it since we need to sell our current house *first* to pay for it. Fortunately I still have a spare house (which is already well and truly subject to CGT) sitting 35km...

I must have missed that in the fine print. Sweet! I suppose that counts if you build a house on some land you bought a year ago too?

Now *that* is something I'd love to know too. The base price thing for CGT, according to the ATO website, is just apportioning it off from the original purchase price and allowing for apportioned fees for the subdivision. Annoying how the ATO site doesn't tell you when the 12 months starts.