Hi All, I've sold a residential townhouse project off the plan where we have still haven't subdivide the land. The land will be subdivided during construction of the house and before settlement.
Usually the CGT event is at subdivision and only becomes payable if there is a sale, calculated at Contract of Sale.
So how does it work where these two factors are the other way around?
For cost-base purposes I would rather have the value of the land on subdivision as the cost base rather than the un-subdivided value.
Any thoughts?
Usually the CGT event is at subdivision and only becomes payable if there is a sale, calculated at Contract of Sale.
So how does it work where these two factors are the other way around?
For cost-base purposes I would rather have the value of the land on subdivision as the cost base rather than the un-subdivided value.
Any thoughts?
