Forum Replies Created

Viewing 1 post (of 1 total)
  • Profile photo of REDuckREDuck
    Member
    @reduck
    Join Date: 2008
    Post Count: 2
    May 25, 2008 - 12:45 pm
    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

Viewing 1 post (of 1 total)