Hi,
I'm currently renting in Ultimo, NSW and am buying a house in Revesby,NSW. The house is currently tenanted. I intend to continue rent in Ultimo and rent out the house to the current tenants and probably only move in 1-2 years later.
In the meantime, if I do not claim any tax deductions and move in 2 years later, will I still be entitled to full CGT exemption when I sell the house in future?
I'm currently renting in Ultimo, NSW and am buying a house in Revesby,NSW. The house is currently tenanted. I intend to continue rent in Ultimo and rent out the house to the current tenants and probably only move in 1-2 years later.
In the meantime, if I do not claim any tax deductions and move in 2 years later, will I still be entitled to full CGT exemption when I sell the house in future?