Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
If you buy an investment property with the aim of selling it after 10 years, does it matter which year you live in it to cut CGT? I have it in my head that it needs to be at least the first 12mths? Can anyone explain this to me, TIA.
Yes it would be our PPOR. I'm just wondering if it needs to be at the beginning of the purchase or if it can be yr 7 out of the 10 and not make any difference.
You would ideally move in at the settlement date to get the full CGT exemption. If you move in down the track it would never be fully exempt.
Terry- would you have to provide a satisfactory explanation to the ATO for subsequently renting? Are there circumstances that they may seem that the move is just for saving tax?
You would ideally move in at the settlement date to get the full CGT exemption. If you move in down the track it would never be fully exempt.
We are wanting to buy a home as a stepping stone. So we will be buying to move in straight away, however we will not stay in it. It will become an IP after 12mths.
So is you live in it as a PPOR for 12mths, then rent it out for the further 9+ years and we go to another PPOR. Does that make you exempt the entire CGT amount or still just 1/10.
We are wanting to buy a home as a stepping stone. So we will be buying to move in straight away, however we will not stay in it. It will become an IP after 12mths.
So is you live in it as a PPOR for 12mths, then rent it out for the further 9+ years and we go to another PPOR. Does that make you exempt the entire CGT amount or still just 1/10.
The IP will only have 1/10 less CGT.