Search results

Good point. My first boss when I started accounting believed that if you move into a rental property just before sale, the entire thing was capital gains tax free. Lots of misconceptions out there.

Just to point out Paul, he said so the one residence rule doesn't apply here, though it is worth noting as a caveat. G.Field, too many issues to cover there. It depends on your treatment of the properties during the development phase, what you intend to do with the other unit, if you...

The ATO has a reasonable description of the tests here. To answer / not answer your question, it is a question of fact rather than time. https://www.ato.gov.au/General/Capital-gains-tax/In-detail/Real-estate/Is-the-dwelling-your-main-residence-/ The only time is an issue is if it was...