Hi all
If you rent or live somewhere else - do you have to have one of your own properties as a PPOR? Or if you have multiple properties, can they all be IP?
If they are all IP, can you live in it? (expenses been tax deductible, have to pay CGT on sale)?
If not, can you buy a property, lease it to someone and they do vice versa? or someone leases it and you live in it?
What determines what is IP or PPOR? Do you have to notify anyone or just keep it noted in the tax return?
Forgive me for so many questions... Just trying to get an understanding about it... thanks
If you rent or live somewhere else - do you have to have one of your own properties as a PPOR? Or if you have multiple properties, can they all be IP?
If they are all IP, can you live in it? (expenses been tax deductible, have to pay CGT on sale)?
If not, can you buy a property, lease it to someone and they do vice versa? or someone leases it and you live in it?
What determines what is IP or PPOR? Do you have to notify anyone or just keep it noted in the tax return?
Forgive me for so many questions... Just trying to get an understanding about it... thanks