Another ppor to ip thread

[ronnieandkylie]

We are planning on buying new ppor and turning old ppor into ip.
I realise repayments on new house wont be tax deductable but is there any cgt payable if we are not selling house, or any other negatives???

 

[alexlee]

We are planning on buying new ppor and turning old ppor into ip.
I realise repayments on new house wont be tax deductable but is there any cgt payable if we are not selling house, or any other negatives???

No CGT on the old place, unless you change the names on the title.

No major negatives, other than that whatever debt you have on the PPOR now is all that's deductible. Get a depreciation report done when you move out.
Alex