CGT ruling on PPOR turned IP?

[eek]

My situation:

Property purchased Dec-07 as PPOR
Turned into IP in Jan-09, currently tenanted until Aug-14
Will be 6 years as income generating IP by Jan-15, so if I sell after Jan-15 it will be subject to CGT.

Looking to acquire a new place shortly which I will move into eventually. It's a big block, still trying to determine if there's potential to develop it. I've been 'renting' ever since the existing property has been an IP, so haven't claimed anything else as PPOR yet.

Scenarios:

(A)
- Acquire new property as IP (nearly 2x stamp duty costs)
- Move into existing IP in Sept-14 after tenants lease finishes in Aug-14
- Move into newly acquired proeprty and claim as PPOR in Oct-14
- Sell off existing IP any time in the next 6 years without CGT
- Apply for stamp duty 'refund' on new property as it's now my PPOR


(B)
- Acquire new property as PPOR, negotiate to have settlement in Oct-14
- Move into existing IP Sept-14 once tenancy finishes - resets 6 year clock, since it was intially my PPOR back in Dec-07
- Apply for partial stamp duty refund after I move into new property
- Sell off IP any time within the next 6 years without CGT. I'm thinking if I hold onto it a bit longer I should be able to sell it for a bit more some time in 2015

Does this mean I'm not claiming two properties as PPOR at once?

(C)
- Acquire new property as PPOR
- Settlement in Jul-14 (if unable to negotiate delayed settlement with vendor)
- It looks like I'm now claiming another property as my PPOR. How does the 6-month PPOR rule apply here?
- Do I still have until Jan-15 to sell the existing IP and avoid CGT, or do I have
- Jul-14 + 6 months (Dec-14) to sell the existing IP and be CGT exempt?
- What if I moved into the existing IP in Sept-14

Essentially I'd like to:
- Reduce duty costs by acquiring as PPOR
- Extend the 6yr CGT exempt rule on existing IP

Are scenario (B) and (C) even realistic? How would you best handle a situation like this? Thanks.

 

[marg4000]

Where have you been living since Jan 09?
Marg

 

[eek]

All over the place. Rental properties essentially.

 

[travelbug]

In B and C you are tryijng to claim 2 PPOR at once.

You can't buy a PPOR then move into the first one (thus claiming it is your PPOR) to reset the clock.

You can only claim one PPOR at once. You need to decide which one will be finantially better.
I'm thinking the new one if you can avoid stamp duty (not sure how Qld works).

You usually have a 6 month change over on CGT. I think you could use that (check with a property savvy accountant). You've had 6 years of free gains. The rest would be % of total time owned.