PPOR development and CGT

[quintets]

Hi,

I think this is an easy question, but I need to make sure.

If I build townhouses where my PPOR property is, are all the CG realized tax-exempt? Is that considered similar to adding extensions and then selling your PPOR?

Jireh

 

[see_change]

Hi,

I think this is an easy question, but I need to make sure.

If I build townhouses where my PPOR property is, are all the CG realized tax-exempt? Is that considered similar to adding extensions and then selling your PPOR?

Jireh

Easy answer. No . There would be CGT and GST implications.

The details would be more complicated and worthwhile confirming with a good accountant . Nick M springs to mind in Sydney.

See Change