Reply: 2
From: Sim' Hampel
On 4/30/02 3:42:00 PM, Aaron Dwyer wrote:
>
>Can you have 2 x PPOR??
>
>1 in your name
>1 in your spouses name
From an ATO point of view for CGT, I believe (in my non-professional and possibly incorrect opinion)... that this is fine in certain circumstances... but you may run into trouble with the definition of "living" in a property.
If you don't live in it, then it can't be your PPOR (except for the 6 year rule thing). Apparently however, there are provisions for having a separate PPOR for your spouse and children (I assume for a situation where you are separated from your spouse and effectively maintaining two houses).
From the ATO's CGT 2001 guide:
"IS THE DWELLING YOUR MAIN RESIDENCE?
You need to take the following factors into account in working out whether a dwelling is your main residence:
- the length of time you live there – there is no minimum time a person has to live in a home before it is considered to be their main residence
- whether your family lives there
- whether you have moved your personal belongings into the home
- the address to which your mail is delivered
- your address on the electoral roll
- the connection of services (for example, telephone, gas or electricity), and
- your intention in occupying the dwelling.
A mere intention to construct or occupy a dwelling as your main residence – without actually doing so – is not sufficient to obtain the exemption."
- - -
From a FHOG point of view, this is not acceptable anyway, the rules explicitly state that you are only allowed one FHOG per family, regardless of whose name the property is in.