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Notes Online Home 2024 Tax Schools Day 1 ATO's 2024 danger areas for individuals
Common audit traps with applying CGT rules to backyard developments
This section of the seminar notes covers common audit traps with applying CGT rules to backyard developments including:
- Subdividing the backyard and selling the subdivided lot
- Building a new dwelling on a subdivided backyard lot, moving into it, and then selling the original dwelling
- Building a new dwelling on a subdivided backyard block for re-sale — different tax outcomes apply