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  • Profile photo of ganadaraganadara
    Member
    @ganadara
    Join Date: 2010
    Post Count: 7
    October 5, 2010 - 9:25 am

    I understood now.

    Thanks a lot~~, Terry!

    Profile photo of ganadaraganadara
    Member
    @ganadara
    Join Date: 2010
    Post Count: 7
    October 5, 2010 - 9:16 am

    But remember you cannot claim capital works upfront, only depreciate it.

    Sorry, could you explain a bit more? I'm not good at this.
    what's the "capital works upfront" for example?
    what's the "depreciate it"

    my main focusing of the claims are
    – interest of the PPOR loan
    – PPOR renovation fee
    – depreciations of PPOR building

    Are they "capital works" or "depreciate works"?

    Thanks a lot, Terry.

    Profile photo of ganadaraganadara
    Member
    @ganadara
    Join Date: 2010
    Post Count: 7
    October 5, 2010 - 8:55 am

    Ah, then you meant that I can claim the renovation fee and interest even PPOR if I'm renting out?

    So is it possible to get whole exception of CGT in the following case?

    1. year 1: living – no claim
    2. year 2- 6: renting out – for this period I'm doing renovation, and claim the renovation fees and interest of the loan (with income reporting to ATO)
    3. year 7: living – no claim
    4. year 8-12: renting out – claim expenses like above again
    5. year 13: living and Sell (no other PPOR selling in this period).

    Can I still get the whole exception of the CGT at the end of above process(year 12)?

    Thanks Terry.

    Profile photo of ganadaraganadara
    Member
    @ganadara
    Join Date: 2010
    Post Count: 7
    October 5, 2010 - 8:00 am

     it is reportable income.  On the flip side, you can also claim expenses


    then is it possible to claim the interest of PPOR as the expenses in the renting period?

    Thanks.

    Profile photo of ganadaraganadara
    Member
    @ganadara
    Join Date: 2010
    Post Count: 7
    October 5, 2010 - 7:43 am

    OK, I got it.
    Thank you all.

    Profile photo of ganadaraganadara
    Member
    @ganadara
    Join Date: 2010
    Post Count: 7
    October 5, 2010 - 6:37 am

    Thanks.

    I have 3 properties "A", "B" and "C" and I'm renting at "D".
    You meant that I have to report the rental income for all 3 even I want to treat "B" as my PPOR. Righit?
    Then can I claim the rental fee of "D" as my expenses?

    And can I know the meaning of "reasonalbe person would take"???

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