Hi all. Just thinking about how any future CGT is proportioned when you subdivide and build.
EG with some rubbery figures.
Purchase price $400,000
New house built and subdivided and valued at completion $400,000
( actual total cost to sub and build is $200,000)
Existing house revalued at $380,000
What would you pay in tax if both sold for $700,000 each in 10 years time
Cheers.
EG with some rubbery figures.
Purchase price $400,000
New house built and subdivided and valued at completion $400,000
( actual total cost to sub and build is $200,000)
Existing house revalued at $380,000
What would you pay in tax if both sold for $700,000 each in 10 years time
Cheers.