Reason not important.
>purchase of one of our rural property by way of private treaty
>we have two lots - two titles
>no agents commission involved
However property is now not principal place of residence. It was once subject to a boundary re-alignment and part of our current PPOR.
Question is, will CGT be due on upon sale? If so, is there any consideration to the said land originally part of our PPOR therefore a credit in CGT for those years? Has anyone heard of 'parent property'? Thanks
>purchase of one of our rural property by way of private treaty
>we have two lots - two titles
>no agents commission involved
However property is now not principal place of residence. It was once subject to a boundary re-alignment and part of our current PPOR.
Question is, will CGT be due on upon sale? If so, is there any consideration to the said land originally part of our PPOR therefore a credit in CGT for those years? Has anyone heard of 'parent property'? Thanks