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Reply: 3.1.1.3.1 From: Dale Gatherum-Goss Hi Mike >Just read this thread and >can't believe how everybody >has muddied the waters. No one >has mentioned the fact that >when Tony buys a new place and >moves into it, then the new >place becomes the principal >residence. Mike, this topic...

Reply: 3.1.1.2.1 From: Dale Gatherum-Goss Hi Rusty >If I plan not to sell the new PPOR, then >I should be safe. Is that correct? Yes, it is. >>>Remember though, when you move >>out of the old house - obtain >>a valuation for it. > >Could you just explain this above point. >I am not quite...

Reply: 3.1.1 From: Dale Gatherum-Goss Hi That is correct. However, you may like to keep in mind the fact that you lose part of the CGT exemption on your new PPOR for the time that you claim the old one still. It's a tough call. Remember though, when you move out of the old house - obtain...

Reply: 3 From: Dale Gatherum-Goss Hi Shelley At the risk of causing you a headache . . . may I respectfully suggest that you ask your accountant to consider S. 118-145 of the 1997 ITAA. This section covers the 6 year rule where your former house, or PPOR, may be exempt from CGT when it is...