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Date Posted: Wednesday, October 29, 07:35:48am
Author: Mark
Subject: Pay capital gains tax on land sold after 12 months?

I purchased land with the intention to build my own home. I have changed my mind and don't want to build anymore - I would prefer to sell the land and buy an established house.

If I sell the land within 12 months of settlement I believe I need to pay capital gains tax. If I sell the land after 12 months from settlement do I no longer need to pay capital gains tax?

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