The future sale of the property will be partially subject to CGT based on a time basis. That is if you own the property for 7 years and 4 of which is as PPOR then the profit will be taxed per :
Profit on sale x 3/7 - Capital Gain
1/2 exempt (owned more than 12 months)
Cheers
Dale
Originally posted by Luc Hi
I have just sold my PPOR and will moving into an IP which I have owned for 3 years. This will become my PPOR.
How will this affect the capital gains tax on the IP if I should sell it at some time in the future?
