Hi, If I purchase a property as PPOR and sell after only living there for 6 months is there a Capital Gains issue? or do I only owe the ATO the difference in stamp duties paid. I live in QLD.
Russ
If it is your PPOR, then there should be no CGT issues – unless the place is rented out at some stage, or used to produce income.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I was told that even if you rent out your PPOR at some stage then you don’t have to pay CGT provided you sell your PPOR within six years of first renting it. Is this information correct?
Bob
Yes that could be correct. If you rent out your home you could still claim it as your main home for up to 6 years – as long as you are only claiming one main home.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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