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If you are moving out and renting you should be able to take advantage of the 6 year rule. You can still class your oirignal home as your PPOR – even if you earn income, and pay no CGT if you sell. Do a search for more info.

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Terry this may work if you have no other PPOR.

“Where NO OTHER dwelling is treated as the taxpayers main residence ” page 366

You don’t need to own it. If you are renting elsewhere then this is your PPOR.

Now a taxpayer may believe he does not have another main residence. T[]he ATO may however decide that the bus shelter he has been sleeping in may meet the definition.

Now to go search the definition of “Main Residence “

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I’ve heard from different people (I think Dale Gatherum Goss was one) that if you move out of your PPOR then do a valuation straight away that that will be your ‘beginning’ price for calculation of CGT.

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Mel have a lot of respect for your opinion but that disagrees with “Thompsons Australian Tax Handbook for 2003 ” sect 14.300
Would appreciate other opinions on this.
Rgds Terry

Can you tell me why you think if you get it valued when it is your PPOR that affects the puchase price for CGT ???

I agree about rents being totally out of line with property values, not sure about your assumption of the need for wages to rise to match property values.

You could be right or it might indicate property is way overdue for a serious correction.

Inner city units are an expensive way of buying hope.
As for an investment ….??????
Look at the Connaught. It has great location, opposite Hyde Park, Harbour views from mid levels up, AND it has gone up very little in real terms in the last ten years. Other examples are the York.
As a lifestyle, unless you are Chinese, the main tennant in the new developments, Sydney is dead as a doornail in the CBD on Sunday.
I really don’t know what ppl were thinking????
Believe that they were just buying hope.

I live in Glenhaven NSW. Several years ago a property sold at auction for over $1,000,000. Problem is the agent did not realise that the last person bidding was a friend of the owner. Brought much joy and merriment to the residents in the following months.

It worked though, cause next time it went up for auction a newbie (person who did not know the area )snapped it up for $900,000, and thought they had a bargain.
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Auctions….you got to love them.

Mel I think that is what JB is saying the Trust cannot distribute a loss. The Negative is formed by the Unit holder borrowing,
Actually if the debt funding come from the Unit holder, It would be very hard for a trust to make a loss, not impossible but unlikely.
This actually agrees with your interpretation if I am not wrong, just takes it a little further.
JB thanks for the feedback on the ATO.
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You could writes books on this topic…Hey I think people already have.
But simply it is a separate entity that can own or trade on behalf of the beneficiaries, the income and capital then rests with the beneficiaries at the discrestion of the trust.
You can therefore move income from a potential highly taxed individual to someone who is not.
The trust is not a separate legal entity and that responsiblity is held by the trustee.
It is a tax and legal mine field, and even a lot of “expensive professionals …make some shocking mistakes…I would love a $1,000 for evry person I have seen who has bought a -prty in a trust.[]

Thats around $5,700 per square metre, sounds like the bargain of the year to me.
I think not.

put up the last five yearts P & L’s the proprietors remuneration including MV, super and other benefits spouse etc incl) for the same period, details of the rent and lease, a review of council records for possible changes, detailed depn and lease of equipt schedules, and we will see what we can do.

otherwise it would be a uneducated guess.