Hi,
We have lived in our PPOR for over 3 years now and are considering to rent out the PPOR and for us to move out of the PPOR to rent at another location in the same suburb. The expected rent received (PPOR) and rent paid by us at another location is expected to be same or similar The difference of course is that the PPOR is now negatively-geared for tax purposes and this is the main reason for considering this scenario (as opposed to say work relocation).
Our question is whether this is scenario is acceptable to the ATO and within the 6-Year rule for CGT exemption when a PPOR is used for investment purposes.
Thanks in advance for any replies.
certainly is acceptable for ATO.. no problems there
My mum is looking for advice on a similar situation.
Is anyone able to recommend a financial adviser I/she can speak with?
Your best bet might be to look for an accountant (rather than financial adviser) in your area, just call a few & they should be able to give you a set price for a one off consult.
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