Private ruling: CGT discount
Date of advice: 15 October 2018
Published: December 2018
Ruling period: Year ending 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Can the sale of your investment property qualify you for the 50% CGT discount? | A1: Yes

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