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Edited version of your written advice
Authorisation Number: 1051441414216
Date of advice: 15 October 2018
Ruling
Subject: CGT discount
Can the sale of your investment property qualify you for the 50% CGT discount?
Answer
Yes
This ruling applies for the following period:
Year ending 30 June 20XX
The scheme commences on:
1 July 20XX
Relevant facts and circumstances
You purchased an investment property in October 20XX
You rented out this property until June 20XX
You demolished the dwelling July 20XX
You built a duplex on the property to live in as your main residence
The duplex was built September 20XX
The property was not suitable to use as your principle place of residence
You have not lived in the property
The property is to be sold
You did not enter into this transaction with the intention of running a business.
Relevant legislative provisions
Income Tax Assessment Act 1997 Section 102-20
Income Tax Assessment Act 1997 Section 104-20
Income Tax Assessment Act 1997 Section 108-55
Income Tax Assessment Act 1997 Section 112-30