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From: Daniel Brazdil
My question is if you purchase a property and live in it for a short period of time, say 12 months and then move out, is the property then exempt from Capital gains for a period of 6 years. If not how does the aforementioned ATO rule work then? Also if you rent out part of your PPOR would you fall under the same ruling for no CG for 6 years (remembering that the property could not be tenanted there after).
My question is if you purchase a property and live in it for a short period of time, say 12 months and then move out, is the property then exempt from Capital gains for a period of 6 years. If not how does the aforementioned ATO rule work then? Also if you rent out part of your PPOR would you fall under the same ruling for no CG for 6 years (remembering that the property could not be tenanted there after).
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