I wonder what the CGT implications are for this scenario:
Buy IP:
1. rent out for about 7 months.
2. IP becomes PPOR for 14 months, before being sold.
3. During that time, former PPOR is rented out, but no tax deduction have been for that period.
Do I now have pay CGT on that property that has been sold?
Buy IP:
1. rent out for about 7 months.
2. IP becomes PPOR for 14 months, before being sold.
3. During that time, former PPOR is rented out, but no tax deduction have been for that period.
Do I now have pay CGT on that property that has been sold?