CGT Exemption?
I have a question on CGT exemption as my situation is a bit complicated:
I bought a block of land and built a house in 2006 (Property A) and moved into it and lived there until 2009. Then I decided to rent it and move into another property (Property B) that I built in 2009. I have been living in property B since then. Now my question is:
1. If I decide to sell property B now and move back into property A, will property B be exempt from CGT (property B has been my principal place of residence for the past 2 years)?
2. If I decide to sell property A at a later date, will it attract tax or it will remain exempt from CGT (because it has been rented for less than 6 years)?
Thanks!
I have a question on CGT exemption as my situation is a bit complicated:
I bought a block of land and built a house in 2006 (Property A) and moved into it and lived there until 2009. Then I decided to rent it and move into another property (Property B) that I built in 2009. I have been living in property B since then. Now my question is:
1. If I decide to sell property B now and move back into property A, will property B be exempt from CGT (property B has been my principal place of residence for the past 2 years)?
2. If I decide to sell property A at a later date, will it attract tax or it will remain exempt from CGT (because it has been rented for less than 6 years)?
Thanks!