Guys
This is my situation, I have 2 properties, A is my PPOR (has always been), and B is my IP (has always been).
Then I am planning to build another PPOR, call it C - however I don't want to live there straightaway, I am planning to rent it out for 1 year - I believe I can claim interest deduction during and after construction period if my intention is to rent it out - I was told for at least 1 year.
During construction period, I will be living in a rental property D, hence I will be renting out my current PPOR - A.
Will main residence exemption apply to PPOR C for whole period - even if I claim interest during its construction period- considering I don't claim any PPOR during construction and construction + 1 year of PPOR C?
My understanding is that I can claim 1 PPOR in any given time - given that I will be renting out my PPOR A - and will be renting in a rental property D. At the same time, because I will be renting out property C for at least a year - I should be able to claim interest on it.
I know it is quite confusing, any advice will be great.
This is my situation, I have 2 properties, A is my PPOR (has always been), and B is my IP (has always been).
Then I am planning to build another PPOR, call it C - however I don't want to live there straightaway, I am planning to rent it out for 1 year - I believe I can claim interest deduction during and after construction period if my intention is to rent it out - I was told for at least 1 year.
During construction period, I will be living in a rental property D, hence I will be renting out my current PPOR - A.
Will main residence exemption apply to PPOR C for whole period - even if I claim interest during its construction period- considering I don't claim any PPOR during construction and construction + 1 year of PPOR C?
My understanding is that I can claim 1 PPOR in any given time - given that I will be renting out my PPOR A - and will be renting in a rental property D. At the same time, because I will be renting out property C for at least a year - I should be able to claim interest on it.
I know it is quite confusing, any advice will be great.