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CGT - PPOR converted to IP
OK thanks for responding.. what really answers the question I guess is that you can have only 1 PPOR per couple (de-facto or not) The way I read the legislation, you can choose to claim a partial exemption until you obtain a new PPOR, which on paper was not until November 2007. But as I now...- pwinne
- Post #4
- Forum: Accounting and Tax
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CGT - PPOR converted to IP
OK reading more, it seems I needed to have made a 'choice' on one of the properties that would make it CGT exempt.. I don't even recall discussing this with my accountant. Either way, is this now set in stone, or can I go back, have my 2007-2008 return re-assesed and pay CGT on house I owned...- pwinne
- Post #2
- Forum: Accounting and Tax
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CGT - PPOR converted to IP
Evening all, I've read a lot on the ATO website, and read a lot here; great posts by all by the way. But am still not sure how this will pan out, so any humble advice would be appreciated. I still plan to see my accountant, but your views would be great regardless! Settled PPOR 5th March...- pwinne
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- Replies: 4
- Forum: Accounting and Tax