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  • Profile photo of coolcup69coolcup69
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    @coolcup69
    Join Date: 2011
    Post Count: 2
    February 1, 2011 - 12:10 pm
    Dan42 wrote:
    Hi there,

    Welcome to the forum.

    To answer your questions;

    1) From the information you have provided, yes, the sale of property A would be CGT free

    2) Not necessarily, you could still elect to call Property A your principal place of residence, even if you have moved into Property B. It just means Property B won't become your main residence for CGT purposes until Property A is sold.
    Property A would need to be sold before it has been rented for 6 years, to be totally CGT free.

    3) The easiest way is to not include the sale in your tax return.

    Thanks Dan42. In relation to your response on point 3, could you elaborate a little further on "easiest way". Does this mean there are a variety of methods? I just want to make sure I take the least tax risk on this front.

    Thanks again everyone!

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