Hi,
Quick question for the forum as my accountant is on holidays till after easter.
Scenario:
Purchased a block of land in Oct last year and am currently building a house on the block with completion due in mid June.
My intention when i bought the block and started building was for my PPOR.
That has now changed and i am looking to onsell it.
What are the ramifications of selling it immediately upon construction?
Any extra stamp duty payable?
CGT payable if i don't move into it?
Would the situation change if i did move into it for a "substantial" period of time?
Any feedback is welcome.
Cheers
Rooster
Quick question for the forum as my accountant is on holidays till after easter.
Scenario:
Purchased a block of land in Oct last year and am currently building a house on the block with completion due in mid June.
My intention when i bought the block and started building was for my PPOR.
That has now changed and i am looking to onsell it.
What are the ramifications of selling it immediately upon construction?
Any extra stamp duty payable?
CGT payable if i don't move into it?
Would the situation change if i did move into it for a "substantial" period of time?
Any feedback is welcome.
Cheers
Rooster
