6-years rule CGT exempt has Change ?

hello.. havent visit this site for long time, i have a few query.. first:

i heard that the 6 years rule to avoid cgt is change now.

before:
after you lease out your property for less than 6 years, if you come back live in there for few months, the 6 years rule will be reset-ed. you now have another 6 years to rent out your property before sell it and still exempt from cgt.

now/current:
there is no reset thingy. you only have 6 years to rent out your property and sell it if you want to pay 0% cgt.

am i right?

http://www.ato.gov.au/content/36878.htm
 
So I was overseas for 2.5 years and rented out my ppor then returned to live in it for 2 years I then moved interstate and rented for 4.5 years and rented my ppor out. I have now bought a house that is my new ppor six months ago so does that mean I have lost the ability to use the first house as my main residence
 
I think you should have moved back into your PPOR after the last lot of renting it out for 4.5 years. Then there is a 6 month overlap rule if you sold it while buying the new PPOR.
 
So I was overseas for 2.5 years and rented out my ppor then returned to live in it for 2 years I then moved interstate and rented for 4.5 years and rented my ppor out. I have now bought a house that is my new ppor six months ago so does that mean I have lost the ability to use the first house as my main residence

You could probably still claim it as your main residence for up to 6 years after moving out, but you wouldn't be able to claim the new house as the main residence during any overlapping period.
 
Back
Top