Capital Gains on Subdivision

[Mandy Mac]

Probably a simple question for you all

If I subdivided my PPOR and sold off the back yard with building plans - would I need to pay capital gains? Coz it WAS my back yard until the subdivision came into effect?

Ta

 

[Kennyjaiz]

You may find this informative:
http://www.ato.gov.au/individuals/content.asp?doc=/content/36907.htm

In short, Yes. It is likely that you will be liable for some Capital Gains Tax, but it depends on your individual circumstance.