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!
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!