求房产Capital gain tax 12m 解释

nlife

请教大侠们
ATO有说房产持有超过12月CPT 50%
请问对于买卖房产event怎么界定
比如说1月份签了合同买了地 3月份地settle交钱 5月份找了builder建房 7月房子建好交钱给builder 那么在几月份后卖房子才可以算超过12个月呢
多谢

大地飞歌

A fixture to land becomes part of the land so at common law the acquisition date for the house would be the date the land was acquired. In other word, look at the contract day when you purchased the land.

Land $2M
Cost of Construction: $1M

Cost Base: 3 M

Sold for $5M, Net gain $2M, 50% discount$1M. You are welcome

大地飞歌

By the way, any govt charges like rates, land tax charged on the land can be capitalised as cost base.

蛇蝎

还以为有12million的CGT，赶紧进来膜拜

Griffon

12m原来是12个月

还以为1200万CGT，本想进来抱壕大腿的

nlife

大地飞歌 发表于 2016-2-3 13:38
A fixture to land becomes part of the land so at common law the acquisition date for the house would ...

多谢
有种说法 如果买地建房以投资房名义贷款 只要建好了没有出租 没有自住 然后就卖了 这样不会产生CPT 这种解释对吗

jeff_lawsons

The 12 month period for the CGT discount  begins when you entered into a binding contract to acquire the land.

Assuming the property is held on capital account, the CGT discount should be available if you sell the property more than 12 months after entering into the contract, even if the property is sold within 12 months of settlement occurring. (Assuming you satisfied the other conditions for a discount capital gain)

Refer  to  ATO ID 2003/456 which deals with off the plan purchases and the CGT discount.:

http://law.ato.gov.au/atolaw/vie ... D2003456%2F00001%22

nlife

jeff_lawsons 发表于 2016-2-3 15:43
The 12 month period for the CGT discount  begins when you entered into a binding contract to acquire ...

膜拜 足迹果然高人多

gkgkgk

jeff_lawsons 发表于 2016-2-3 14:43
The 12 month period for the CGT discount  begins when you entered into a binding contract to acquire ...

额，是说，一个楼花在签了合约(binding contract有特别指哪一种吗)之后，就可以开始算12个月，不用等settle之后算？那些两三年以后交房的楼花，交楼直接卖就可以有CGT discount了？

jeff_lawsons

gkgkgk 发表于 2016-2-3 18:11
额，是说，一个楼花在签了合约(binding contract有特别指哪一种吗)之后，就可以开始算12个月，不用等sett ...

Yes. If the intention to purchase the off the plan property is to hold the property as an investment to derive rental income or to occupy as main residence,then the profit would be assessed on capital account (subject to CGT) . If the sale is on capital account, this type of sale would be a CGT event A1 sale. For CGT event A1, a resident individual should be entitled to the 50% CGT discount.if the original purchase contract was signed more then 12 months.

However ii the acquisition is for the purpose of resale to make a profit, then any profit would more likely be assessed on revenue account. (Not subject to CGT)  CGT discount is not relevant in this situation.

kevingu

我的理解是买来房子要Hold满一年。如果买楼花，前脚交房，后脚卖房，我怀疑这能不能适用50% CGT的discount.

jeff_lawsons

kevingu 发表于 2016-2-4 11:26
我的理解是买来房子要Hold满一年。如果买楼花，前脚交房，后脚卖房，我怀疑这能不能适用50% CGT的discount. ...

•        When you enter into a contract to buy a property off the plan, you would start to hold a bundle of contractual rights under the contract. These rights would constitute a CGT asset. If you sell your entitlements / rights under this contract to someone else then this should trigger CGT event A1. If the rights have been held for more than 12 months before they are sold then the CGT discount should be available if you are an individual and a resident of Australia.

Refer to ATO ID 2003/456 at the link below which deals with off the plan purchases and the CGT discount. While the ATO ID has been withdrawn, the document states that it was withdrawn because it was a straight application of the law (ie, not because the conclusion was incorrect).

http://law.ato.gov.au/atolaw/vie ... D2003456%2F00001%22


•        If you sell the property after settlement has taken place but within 1 year of settlement occurring then the CGT discount should also be available as long as more than 12 months has passed since you originally entered into the contract to acquire the property off the plan. This should also trigger a CGT event A1.

Refer to TD 18 at the link below which deals with the application of the CGT indexation rules to off the plan purchases. The ATO confirms that the relevant starting point for indexation is when the contract is entered into. Similar principles should apply when looking at the CGT discount.

http://law.ato.gov.au/atolaw/vie ... /TD18/NAT/ATO/00001

nlife

jeff_lawsons 发表于 2016-2-4 09:57
Yes. If the intention to purchase the off the plan property is to hold the property as an investme ...

... If the intention to purchase the off the plan property is to hold the property as an investment to derive rental income or to occupy as main residence,then the profit would be assessed on capital account (subject to CGT) ...

请问这样是不是说 房子必须得出租或自住一段时间

However ii the acquisition is for the purpose of resale to make a profit, then any profit would more likely be assessed on revenue account. (Not subject to CGT)  CGT discount is not relevant in this situation.

请问 purpose of resale 怎么判定 是不是买房到卖房之间没有出租或者自住就可以认为是以resale为目的 比如有买楼花但是在房子还没有建好就卖了的 这个是不是就可以认为purpose of resale 那么这样所赚的差价是不是要算到个人收入里报税 而且没有50%说法 不管有没有12个月

谢谢

jeff_lawsons

nlife 发表于 2016-2-4 12:33
... If the intention to purchase the off the plan property is to hold the property as an investmen ...

If you intend to hold initially as an investment or main residence, you shall perhaps document some evidence. Such as loan documents which show the intention of using the property, correspondences with financial adviser/accountant regarding the investment property and tax advice.

Your behaviour and actions should remain consistent with that intention. For example, you shall claim interest deduction if you borrowed to purchase the investment property. Note that you shall still be able to certain expenses (interest, borrowing expenses) even though the property is not being built as long as your intention is to hold the property for investment purposes (ie, to receive rent)

vampire_k

围观12million

realestate

jeff_lawsons 发表于 2016-2-4 12:57
If you intend to hold initially as an investment or main residence, you shall perhaps document som ...

Regarding Revenue Profit and capital gain tax

if you buy a land under company, build and sell. the profit get taxed 30% company tax (is this revenue acount?)
if you buy a land under personal name or trust, build and sell, the profit is subject to CGT (50% discount if selling date is more than 12 months since purpose of land) ? (so this is capital account?)

is this correct??


also.regarding 12 months , 50% CGT discount, is the period calculated between my  purchase land date and settlement date for the new purchaser? or their contract signed date for the new purchaser?

eg.  if we buy land in january, build and completed by october same year. sold in november, settlement in january next year. is this 12 months (bought land in january, settle in january?, or is it not 12 months, because contract was only signed in november?
which date do you take into consideration, sign contract date or settlement date?

tony_wang99

以为是12m， 围观土豪的

jeff_lawsons

realestate 发表于 2016-2-10 16:17
Regarding Revenue Profit and capital gain tax

if you buy a land under company, build and sell. th ...

Generally there are three ways profits from property development could be treated for tax purposes, regardless of what the structure of entities are.

1.        As ordinary income under section 6-5 of the ITAA 1997, on revenue account, as a result of carrying on a business of property development, involving the sale of property as trading stock

If the property acquired and developed is for the purpose of resale to make a profit and the taxpayer is carrying on a property development business, the property would be trading stock. The sale of the property would be taxed on revenue account and the CGT provision would not be relevant. There would be GST implications as well.

2.        As ordinary income under section 6-5 of the ITAA 1997, on revenue account, as a result of an isolated business transaction entered into by a non-business taxpayer or outside the ordinary course of business of a taxpayer carrying on a business, which is the commercial exploitation of an asset acquired for a profit making purpose.

If the property development activities do not constitute a business but a profit making undertaking, the sale of the property would be taxed on revenue account and the net profit would be assessable ordinary income. Any capital gain on the sale of the property would be reduced by the amount of assessable income to avoid double taxation. There would be GST implications as well.

3.        As statutory income under the capital gains tax (CGT) legislation, (sections 10-5 and 102-5 of the ITAA 1997), on the basis that a mere realisation of a capital asset has occurred.

If the property is developed for the purpose of deriving rental income or with the originally intention of using it as a private dwelling (ie, on capital account), and the sale of the property can represent the mere realisation a capital asset in the most advantageous manner. In this case, the sale would be subject to CGT. Also as the sale is on capital account, there would be no GST implications.

The timing of tax point will also be different:

Situation 1:  Business Income – Settlement date
Situation 2:  Profit making undertaking - Settlement date
Situation 3:  Mere realisation of a capital asset – Date of signing the contract

nlife

jeff_lawsons 发表于 2016-2-10 17:02
Generally there are three ways profits from property development could be treated for tax purposes ...

如果从合理避税角度来说 是不是第三种情况优势更大些
可能多数人投资房产 特别是买地自建 往往要么就是用来出租或自住 一段时间后卖掉 — Capital gain 要么就是建好了或建好之前就脱手卖掉 — resale
不知这样理解是否正确

lee2267

nlife 发表于 2016-2-10 17:49
如果从合理避税角度来说 是不是第三种情况优势更大些
可能多数人投资房产 特别是买地自建 往往要么就是用 ...

不考虑GST吗 ？

其实这是很大的 一个topic。。需要详细资料的。。里面的一个小变动就可能导致结果大不相同。。

泛泛而谈只会 越来越烦

paoqiqi

nlife 发表于 2016-2-4 12:33
... If the intention to purchase the off the plan property is to hold the property as an investmen ...

c g t不是本来就和个人收入一起申报的吗？你说的算在收入里面是什么意思？

paoqiqi

jeff_lawsons 发表于 2016-2-4 12:57
If you intend to hold initially as an investment or main residence, you shall perhaps document som ...

假设我的楼花是5月签合同卖的，就是两边同时settle的那种。然后8月settle。那我的cgt算哪个年度？有50 off的优惠吗

paoqiqi

jeff_lawsons 发表于 2016-2-4 09:57
Yes. If the intention to purchase the off the plan property is to hold the property as an investme ...

后面那种情况能否具体说明一下？谢谢

Jcool