CGT - is it too late for me?

Hi Guys,

my first IP was in Faifield sydney in 2006. Ive recently heard you can reduce CGT if you live in this? just wondering if its too late for me as i heard somewhere else if you have the IP for more than 6 years its too late?

I have never lived in in it and its always been an IP since 2006
 
You can benefit from the 6 year rule if you moved in on day one then from the time that you vacate you have a six year window of no cgt provided that you don't have another ppor. If you haven't moved in, then you can only take advantage of the 50% cgt discount.

Plenty of threads about this topic.
 
Hi Guys,

my first IP was in Faifield sydney in 2006. Ive recently heard you can reduce CGT if you live in this? just wondering if its too late for me as i heard somewhere else if you have the IP for more than 6 years its too late?

I have never lived in in it and its always been an IP since 2006

Too late because you have never lived in it. If you move in now you may be able to save CGT from this point onwards - if you do not have any other property which is not being counted as your main residence.
 
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