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Like always Paul thanks for the detailed clarification. Is there any particular site good for reading up on Victorian land taxes? I have a feeling he would be in trouble as the cost of the 2 proposed PPOR's would be about 1.7mil.

Thanks Terry That was my initial thought that the ATO may take a stance the purpose was profit driven. I would imagine after 12 months though that they You may be ok. A lot can happen in a year that may cause you to sell the place you just purchased.

Hi All, My mate has a scenario I was not too sure about. Has Current PPOR (always lived there) and wants to sell, he would be CGT exempt. He has another place lined up that he believes is under valued that is OTP due to finish construction in June and is considering purchasing it. Let us...