I know I can likely find this via search, but I am hoping for a quick answer to give some advice to someone this morning.
A person buying a house in Brisbane, not a first home owner, buying as an owner occupier will pay duty as per OSR site. This would be a home for her to live in and retire in (age 52).
Her plan is to live there, but if she has trouble financially, she can move out and rent it out, rent somewhere cheaper for a few years until she gets on her feet a bit more, move back in and avoid ever having to pay capital gains tax (six year rule).
I cannot see a minimum timeframe on the OSR site, so is there a minimum time she must live in the house before she could move out (if she wants to) without losing the CGT free status?
A person buying a house in Brisbane, not a first home owner, buying as an owner occupier will pay duty as per OSR site. This would be a home for her to live in and retire in (age 52).
Her plan is to live there, but if she has trouble financially, she can move out and rent it out, rent somewhere cheaper for a few years until she gets on her feet a bit more, move back in and avoid ever having to pay capital gains tax (six year rule).
I cannot see a minimum timeframe on the OSR site, so is there a minimum time she must live in the house before she could move out (if she wants to) without losing the CGT free status?