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From: Shelly R
Hi again and thanks guys for responding to my post "should I sell?".
My accountant is insisting that the minute
your property ceases to be your PPOR you will
pay capital gains tax when you sell.
I ran by with my accountant what Dale mentioned.If you sell before 6years you do not pay capital gains.
My accountant does not agree with this law.
He also said the valuation on leaving your PPOR has no relevance as people were getting
their properties valued high so the difference
was less.
He seems to think the taxation office has put a stop to this?
Don't get me wrong.My accountant may well
not be up with the latest tax laws as he has
no personal experience with investment properties.
Thanks in advance,
Cheers Tony
Hi again and thanks guys for responding to my post "should I sell?".
My accountant is insisting that the minute
your property ceases to be your PPOR you will
pay capital gains tax when you sell.
I ran by with my accountant what Dale mentioned.If you sell before 6years you do not pay capital gains.
My accountant does not agree with this law.
He also said the valuation on leaving your PPOR has no relevance as people were getting
their properties valued high so the difference
was less.
He seems to think the taxation office has put a stop to this?
Don't get me wrong.My accountant may well
not be up with the latest tax laws as he has
no personal experience with investment properties.
Thanks in advance,
Cheers Tony
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