Q about the 6 year CGT exemption rule for PPR

Hi all. I read a few threads here that talk about the 6 year rule - I actually never heard about it until today!

I'm wondering whether if my IP qualifies as a PPR:

2006 - Bought the property as first home buyer. Immediately lived in it for 1 year continuously.
2007 - Rented it out (I moved out)
2010 - Right now, it's still being rented out

My question is, if I sell it now (2010), do I have to pay CGT on it? If so, what is my cost base?

If you have the official ATO ruling URL on it, please send it to me! Thanks so much for your help!

PS This forum is AWESOME! So many smart people here!!!
 
It depends where you have been living for the past four years. Have you bought somewhere else or have you rented / moved back in with parents?

As long as you haven't bought another PPOR and want to claim the new house as your main residence, then you should be able to use the six year rule.
 
Yes, as above. Also If you move back in next year you can then move out and rent it fort another 6 years without having to pay CGT.
 
Yes, as above. Also If you move back in next year you can then move out and rent it fort another 6 years without having to pay CGT.

Do the ATO like that? I know its in the rules, but surely they would try and catch you out on the anti avoidance act or something similar?
 
I read somewhere else on here that it would qualify as long as you lived in it first, then rented it out. If you rented it out, lived in it, then rented it out, the exemption was the fraction of the period while you were living in.

I wonder if you bought a PPOR which was tennanted, lived in it as soon as the current lease was up, then rented out - if it would qualify for the 6 year rule?
 
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