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zxw
发表于 2021-5-11 23:48:58
If you subdivide the land and each block is registered with a separate title, for CGT purposes, the original land parcel is divided into two separate assets. However subdividing land does not result in a CGT event.
This means that you are still considered as having hold the land for more than a year in your example.
If your sale of the subdivided land represent a mere realisation of capital assets, the it will fall for consideration under the capital gains tax provisions.
However, as lenny_dong has mentioned, profit made on the sale of subdivided land can still be ordinary income, or a profit making undertaking or plan, if the activities become a separate business operation or co妹妹ercial transaction. If this is the case, GST is also relevant.
Please refer to paragraph 13 of Taxation Ruling TR 92/3, the ATO sets out what they think is relevant in determining whether an isolated transaction amounts to a business operation or co妹妹ercial transaction.
Link to ATO TR 92/3 Income tax: whether profits on isolated transactions are income:
http://law.ato.gov.au/atolaw/vie ... TR923/NAT/ATO/00001
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