Hi Melbear,
Thanks for the additional information. The tax treatmnet of holiday home may apply to my case too. I will certainly bring it up when I consult an accontant. Thanks so much for your time.
Cheers.
Dragonlady[thumbsupanim]
Hi Melbear.
Very much appreciated for your advice. It is a bit messy but will definitely talk to an accountant before I do anything. Thanks again.
Dragonlady[hair2]
Hi Derek,
Thanks again for your sugguestion. Will certainly see an accountant regarding the above issue. Lucky Ihaven’t sold the property yet. will have time to look into it first. In my case, I definitely need some professional advice. Very much appreciated for your help.[thumbsupanim]
Hi Derek, Thanks for your advice. I will consult an accountant when the sale happen. It is a bit messy. Very much appreciated on your comment.[rolleyesanim]
Hi Derek,
Thanks for your reply.Perhaps I should explained a bit more about the situation.A property was bought as my own home before I sold my old one.As it took me almost 13 months to sell my old family home ( it exceeded the 6 months window period which was allowed by ATO ).I have moved into my new home and rented the old one while selling. I had elected my old home as my principal residence so I did not have to pay CGT.
I am just wonder when I do sell my new home which I have not rent it out at all but I wll be still liable for CGT on the period I owned the old home before it was sold. Can I claimed the interest payment as cost based then ?
Sorry for the confusion ? Hope you can coment on it ? Many thanks.[eh]
