Our gut tells us to keep it. I did the calculations and after the tax return it’s costing me a bit over 1500/year which isn’t much at all.

We still want to increase our property portfolio. So thinking about using the available equity in IP1, and along with our savings use it to purchase a PPOR in 2011. Live in it for 6-12 months, then rent it out as an IP2. Question with this method – When we move out IP2, what if we wanted to move back into IP2 and make it our PPOR.

I remember reading somewhere you may need to pay for CGT when moving into your IP, but then also heard that if you move in before a period of time, you don’t have to.

Can anyone confirm if that’s true and where that information is officially available?