M Mandy Mac 3rd May, 2010 #1 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
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
K Kennyjaiz 11th May, 2010 #2 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. Last edited: 11th May, 2010
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.
