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IP into PPOR
wow Terry, this is huge discovery for me but still little big confused... Lets say I purchased house for 100K as PPOR Lived in it for 5 years and its valued at 300K now... If it becomes IP now and in 5 years I decide to sell for 400K lets say, instead of paying CGT on 100K profit, you...- Nem
- Post #16
- Forum: Accounting and Tax
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IP into PPOR
Great spreadsheet Paul, thank you!! Can I please confirm, if I buy new kitchen now while house is my PPOR, and only in 2 years it becomes IP, can I still include that kitchen as home improvement later in case of selling to reduce CGT??- Nem
- Post #14
- Forum: Accounting and Tax
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IP into PPOR
Do you have to have all invoices?? I have details recorded in spreadsheet but didnt save all bills or invoices... :confused: Renovations occurred 4-5 years ago- Nem
- Post #8
- Forum: Accounting and Tax