FHOG - unit classed as IP when still rented first few months?

[marmalade]

Just checking my assumptions are correct...

Bought a property with FHOG. It was tenanted and still had a few months on the lease, so I waited three months after purchase then moved in.

First 3 months = IP (claim income & deductions on tax return)
After I moved in = PPOR (don't claim anything on tax return)

Am I right?

 

[Propertunity]

That's right

 

[marmalade]

Thanks Propertunity! I love a simple thread