You pay tax on any profit you make when you sell the property, depending on:
- if you purchased the property with the intention of resale
- your have a history of buying and selling
- you are a property dealer, developer or builder or associated to one
- the bright-line property rule.
As it is your holiday home, you're not likely to have lived in the property for the 50% of the time needed to meet the main home exclusion.