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Demolishing your existing home to build a new home
Did you know that you could receive a full main residence exemption when you demolish an existing home to build a new home?
If you occupied the old residence until destruction, and then moved into the new house within four years, you are deemed to have resided in that new house without a break from the period before the old house was demolished until you moved into the new one. As such, you will be able to receive the main residence exemption from the time the old house was acquired and therefore no capital gains tax when you sell the new house.
For more information, contact us on 02 9957 4033.
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The material and contents provided on this website and in our print, email or downloadable publications are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained. Liability limited by a scheme approved under Professional Standard Legislation.
The material and contents provided on this website and in our print, email or downloadable publications are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained. Liability limited by a scheme approved under Professional Standard Legislation.
