CGT on PPOR

[younginvestor]

I know this is such a newbie question but here goes anyway...

If I sell my home of residence, that I have owned for 20+ years. Do I plan capital gains tax on the total amount I see it for, if I just put the money into the bank...?

 

[Alex Investor]

As I understand it there is no CGT on your PPOR. Hope this helps.

Alex

 

[younginvestor]

so if you sold the house for 1mil, that is tax free ?

 

[jocko]

Sold my PPOR in Canberra 6 months ago and was told no CGT on PPOR. I thinks that is also correct for other states.

jocko

 

[DaleGG]

HI

There is no CGT on the sale of your PPOR - regardless of how much profit you make.

One of the few advantages worth hanging onto.

Dale