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By your posts, you seem highly concerned with reducing your taxes. I'd advise to go for the capital growth, tax free for your PPOR, for the real gainz. But it's your play.

How about delaying selling your Sydney PPOR for the next year or 2 until your ready to buy your next place, and rent it out in the meantime? That way you can keep getting CG that's happening right now and also collect rental return, without having to do anything such as enter complicated...