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6 Year rule Question.
That's right. Its a constantly moving set of goal posts. The issues are really not that complex however 1. Ascertain the MR exempt period eg 6 yr 2. Maximise the exempt period ie 6yr. 3. In 7 years if 1/7th is taxable and eligible for 50% CGT discount then the tax may be far less than you...- Paul@PFI
- Post #4
- Forum: Accounting and Tax
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6 Year rule Question.
No...That is not an option. You own a CGT asset which was your main residence. The MR exemption continues under one of two methods: 1. You actually do not have another main residence; or 2. If you do have another property which could be a MR, you "elect" for the original to remain your MR...- Paul@PFI
- Post #2
- Forum: Accounting and Tax
