Browse Forums Home Finance Re: Tax on sold land 2Sep 09, 2018 9:40 pm hoastefan Hi does anyone know when our land has titled, should we sit on the land for 12 mths before selling to save tax? Is this from date of contract or date of titled? Yes, it's date of contract, not title. Also, when you sell, it is date of sale is the contract date not settlement. the exemption applies only to your principal place of residence - so you must live in it. The 200 days is continuous. You also have to apply for the exemption. 2 13321 If it's your primary residence then there is no tax deductions to be made. 4 125352 Yeah I don't know why I came to a forum. Place is full of wierdos/pedos thought internet may help but I suppose I'll try my luck with someone in person. Cheers. I tried… 0 6448 |