Can I ask a similar question, please? Here is my time frame:
1993/4 - bought a place (QLD) and lived in it for a few years (~$105,000)
1997/8 - rented it out (rented everywhere else, no other PPOR purchases)
Apr 2009 - moved back in and did a complete renovation (unit was in "original" and very run-down condition when we moved in; we completely gutted it back to a concrete shell and redid absolutely everything)
Nov 2010 - moved out and re-rented it (had valuation done to use property as security for a loan in ~Dec 2012; came in at ~$265,000 IIRC)
- currently no other property deemed PPOR
So if we sell before Nov 2016, what are the CGT implications? Should we have had it valued in Apr 2009, to see how much CG there had been up to that point (prior to moving back in/the reno)? Hindsight is a wonderful thing....
1993/4 - bought a place (QLD) and lived in it for a few years (~$105,000)
1997/8 - rented it out (rented everywhere else, no other PPOR purchases)
Apr 2009 - moved back in and did a complete renovation (unit was in "original" and very run-down condition when we moved in; we completely gutted it back to a concrete shell and redid absolutely everything)
Nov 2010 - moved out and re-rented it (had valuation done to use property as security for a loan in ~Dec 2012; came in at ~$265,000 IIRC)
- currently no other property deemed PPOR
So if we sell before Nov 2016, what are the CGT implications? Should we have had it valued in Apr 2009, to see how much CG there had been up to that point (prior to moving back in/the reno)? Hindsight is a wonderful thing....