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So would it be correct to say you can use apportionment for both: 1. If was PPOR first (use valuation method when moved out to work out the cost base with apportionment if you moved in proper anytime?) In this case you can't use acquisition costs, such as stamp duty to boost up the cost...

nice one, Ah I see so he owned the house which was his only PPOR for 10 yrs and leased it for 7yrs he would get to calculate his partial exemption as CaptialGain x 0.1 (exempt for first 6 yrs then period exceeding is only 1 yr out of 10yrs of ownership) and x 0.5 (discount)? thanks...

I have a question, I was wondering if Shanty's been leasing out the home for 7yrs, cause its been income producing for 7 yrs if he were to sell now/or later he would have to pay CGT for those 7 yrs right? Not just 1 yr (6yrs exempt and 1 yr assessable - this is not correct I think?) Also if...

I just called and registered and they said I will get a combined bill for the past 2 years and this year all in one and will allow to pay by 3 installments and that I will have no penalties or interest.

Yes thanks Terry, If it wasn't for that I would have completely been unaware

thanks Terry, I will give them a call to find out the damage fir the past 2 years and register etc. I hope I dont have too big a penalty if I call them up now and pay it all off pronto?

I had a question about one of the exemption notes on page 16 regarding absence exemption "cannot rent out PPR for more than 6 months in a year" I have been renting out our home for past 2 years while overseas (that was originally PPOR) and still am electing to treat as main residence, does...

No worries thanks Terry Thanks all for the inputs Cheers!

Thanks for sharing your info on Part IVA So on face value this strategy may potentially not pass the test, would that be the general opinion? Thanks for the input guys

Coasty mike - what is the part4(a)? It only seems to go up tp part 4 in the legislation database?

(propertunity) I would be moving in back to just reset the clock and I probably wouldn't work. If I setup all the utilities/electrol roll/ move all stuff in and physically live there, do I need to give any other reason for returning other than I just "felt like" returning home? Or do you think...

Hi All, I have a question about my main residence in Sydney. I would like to rent it out for 6yrs (while I rent in Melbourne and do some work there) and then move back in to reset the clock. Then rent it out again for another 6 years (keep going back to rent in melbourne) and so forth...