Hi
I recently bought a new PPOR and downstairs is a whole other living area (excluding shower) and I am thinking of renting it out to my brother in law at market value. I was just wondering if I live in the place upstairs for 5 years min and rent the area downstairs for about 2 years, when I come to sell what would the CGT consequence be? And also can I do a PAYG income adjustment on this situation?
I recently bought a new PPOR and downstairs is a whole other living area (excluding shower) and I am thinking of renting it out to my brother in law at market value. I was just wondering if I live in the place upstairs for 5 years min and rent the area downstairs for about 2 years, when I come to sell what would the CGT consequence be? And also can I do a PAYG income adjustment on this situation?