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- elkam wrote:
The problem may not be that you lose 6 months out of 2 years CGT exemption but that, because it will be seen as having been an investment property first, it will not qualify for the 6 year rule.
Yeah this was my main concern. The ato website states that I will need to move in first in order to treat the property as my PPOR and apply the 6 year rule.
I think the main issue here is the property can not be treated as my main residence as I would not have moved in as soon as practicable after settlement. Since it ca not be treated as my main residence it follows the 6 year rule can not be applied.
Looks like I will have to try to find another property.
Thanks for your input guys,
cheers
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