Minimize CGT when selling.

[airofu]

I currently have our PPOR and interested to know the ins and outs of selling my property in regards to CGT. We have been here for 5 years the first 11 months it was rented out when purchased. If we sell today what CGT would I be liable for? How is that 50% discount calculated?

If I rented out my PPOR today and purchased a 2nd property as my PPOR - would this affect CGT for better/worse when I sell this 1st property?

Does all the above affect selling my 2nd property in regards to CGT later on down the track?


Thanks

 

[Melbournian]

11 months /(how long you had it) X the capital gain to work out how much you would have to pay if you sell now.

you can only have one PPOR at any given time.