You're not entitled to the exemption for a vacant block. Subdividing land is not a CGT event if you retain ownership of the subdivided blocks, so you don't make a capital gain or loss at the time of the subdivision. However, you may make a capital gain or loss when you sell the subdivided blocks. The amalgamation of the titles to various blocks of land that you own does not result in a CGT event happening.
For More Information Visit: https://valuersoffice.com.au/capital_gains_tax_valuations/capital_gains_tax_valuations.php
NSW Valuations Office Fees
Fees for Valuations are from $200 plus GST ($220 Inc GST)
Time Frame
Most Valuations are sent within 48 Hours
email: services@valuersoffice.com.au | Office: 02 80060663
Head Office: Se 8 421 Harris St DARLING HARBOUR NSW 2007 | PO Box 1117 BROADWAY NSW 2007
NSW Valuations Office | ABN 46 148 213 772
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