How do you calculate CGT when you subdivide your block, build on the rear then sell?
i.e. what is your cost base from which profits are calculated to pay CGT?
I assume building and subdivision costs are taken as is. What about land costs, do you the value of the land when originally purchased or the value at time of subdivision?
Let's also assume it's kept for 12 months so CGT is only calculated on 50% of profit.
Thanks for any help on this one.
i.e. what is your cost base from which profits are calculated to pay CGT?
I assume building and subdivision costs are taken as is. What about land costs, do you the value of the land when originally purchased or the value at time of subdivision?
Let's also assume it's kept for 12 months so CGT is only calculated on 50% of profit.
Thanks for any help on this one.