Rent for six months, then PPOR?

[CCC]

Is it possible to rent out a property that has been purchased, but still be able to move into it as a PPOR at a later date? ie can we move in at a later date, develop/renovate property and sell as our PPOR in relation to capital gains tax?

 

[Simon]

Yes.

You may have to pay a fraction of the CGT which will be calculated on how long is was rented compared to how long it was a PPOR.

 

[Rystar]

is it possible to do this:

once house is ready to rent, get it valued.
then after the time limit you have set, just before you move in you get valued again.
then the capital gain should be in writing for the time period.


cheers
Ryan

 

[CCC]

Thanks Rystar and Simon. I presume an agents appraisal or Contract price would be a sufficient record?

 

[Special Forces]

I am also very interested with this scheme (BUY->IP->PPOR).

Are there any pitfalls here? What would gurus recommend to read/where to look for information about the scheme?

Thanks.

 

[Pushka]

I also plan to do this but I dont see it as a scheme. It is just a way for me to get into a market I want to now, before the price soars and I wont be able to afford to do this when ready to move!