Renting out PPOR

Same as rnbguy in the below thread, I am also thinking of moving out of my apartment in Melbourne into a place closer to work, and rent out my current apartment, and move back in within 6 years for CGT exemption benefits.
http://www.somersoft.com/forums/showthread.php?t=61628

Doing some readings on the ATO website, I want to clarify a few things:

1. I have only lived in the apartment for 7 months, and from reading the forum, the time frame needs to be 12 months? However, ATO website states that "there is no minimum time a person has to live in a home before it is considered to be their main residence". Am I missing something here?

2. In order to rent out my PPOR as an IP, do I have to keep all my mails to the current address? all the bills etc under my name? or can it be under the tenant's name?

Thanks!
 
1. The ATO, who do PPOR exemptions to CGT have one interpretation of how long you have to live there, The SRO who administer the First Home grant have another (if applicable).
2. You need to redirect the mail, if you dont, the tenant will put it in the bin, and if its a rates notice, the council wont chase you up until they try to list it on your credit report. Dont leave any utilities in your name either...

Get proof. If you are asked, have some proof it was your PPOR, drivers licence, mail addressed to you, electoral role, etc etc.
Get a valuation done, so if for some reason, you find a better place to park your PPOR exemption sometime in the next 6 years, you will only pay CGT on the increase since you moved out/did the val.
 
Thanks tobe.

Just to further clarify, from the capital gain tax exemption point of view, do I have to have lived there for more than 12 months before moving?

And from the mailing etc, what I meant to ask was, do I have to keep all my correspondences there whilist the place is rented out in the coming years? i.e. what sort of proof do I need, to say that the place is my PPOR whilist it's rented?

Hope that make sense.
 
my understanding, and I am not an accountant, is you just have to prove, if asked that it was your PPOR as per above, with a couple of documents.
You do not have to continue to show its your PPOR, the ATO will know it is for 6 years, or until you change your PPOR to another property.
 
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