So I made an offer today on a currenty tenanted property that is to be our PPOR and the agent asked me would I require vacant possesion.
We dont have our current PPOR on the market so there will be some time between settling on this one moving in, let say 3 months.
Am I correct in assuming that if I dont get vacant possesion in the contract and give the tenant 60 days notice to vacate a month after settlement I would be liable for CGT for a portion of the sale price if I sell in the future based on a time rented/time lived in calculation?
Does the tax office actually calulate it down to days?
We dont have our current PPOR on the market so there will be some time between settling on this one moving in, let say 3 months.
Am I correct in assuming that if I dont get vacant possesion in the contract and give the tenant 60 days notice to vacate a month after settlement I would be liable for CGT for a portion of the sale price if I sell in the future based on a time rented/time lived in calculation?
Does the tax office actually calulate it down to days?