Tax question on capital gains tax

[atti]

hi, i know this question has probaly been asked before but i cant find exactly what i am after, my situation is i am planning to sell my property as i think i can get the best price for it before july ends as its in a very affordiable price range for first home buyers.

i have owned my property for 2.5 years i've lived in it roughly 20 months then i moved back home to rent out for last 9 months also, if i decided to sell my house now will i be charged capital gains tax ? it is my first home PPOR before i moved out to mums as i couldnt afford repayments on mortgage...

i think i read somewhere i am entitled to rent my PPOR out for up to 6 years before CPT kicks in... atm i am unemployed with broken wrist probaly wont be able to find work for a while so i am planning to sell and invest elsewhere maybe stockmarket when its down abit more....

thanks in advance for any advice on what i should do, also i havent done my tax yet hehe for last financial year... =\

 

[PrimeCommercial]

If you moved straight in to the property after purchasing it with the intention of it being your PPOR and then for some reason you moved out and rented the property, then the property will be CGT exempt for up to 6 years if you don't claim the exemption on another property during that time.