rozan replied to the topic CGT with PPOR to an IP in the forum Legal & Accounting 18 years, 2 months ago
I think the above comments are correct if the rented house was claimed as your PPOR (and you didn’t claim another).
However, from what I understand, if the rented house was NOT claimed as your PPOR – you would have to apply the ownership ratio calcuation (eg. owned for 10 years, was not PPOR for 9.5 years) to any CGT liability.
The ownership…[Read more]
rozan replied to the topic CGT advice in the forum Legal & Accounting 18 years, 2 months ago
I spoke the the ATO on two occasions and received TWO different answers!!!. Not very helpful : (
I had another read through the ATO CGT guide and based on the examples within, this is the way I think it SHOULD work out for me.
1) I should receive a part “main residence exemption” on CGT for the existing front house and front land. This part…[Read more]