runnyman replied to the topic CGT event and CGT Discount in the forum Help Needed! 2 years, 5 months ago
Thanks for the advice Benny, I’ll get onto the chat function for confirmation of this. All the best!
runnyman replied to the topic CGT event and CGT Discount in the forum Help Needed! 2 years, 5 months ago
Cheers guys!
runnyman started the topic CGT event and CGT Discount in the forum Help Needed! 2 years, 5 months ago
Hi all,
Hope someone can assist with a quick CGT question.
I am considering selling my investment property and want to make sure I am eligible for the 50% CGT discount as have not owned the property that long.
Signed contract for Purchase 10th June 2021.
Settlement date 13th July 2021.
Am I correct in thinking that 10th June 2021 is the…[Read more]
runnyman replied to the topic Capital Gains Tax in the forum Help Needed! 3 years, 7 months ago
Hi Terry sent you a quick email. Hope you didnt mind taking a quick look at it.
Much appreciated!
runnyman replied to the topic Capital Gains Tax in the forum Help Needed! 3 years, 8 months ago
Thanks Terry for the feedback! Really appreciate it!
But if you own another property you cannot choose both as the main residence for an overlapping period.
So with respect to this point. If my IP becomes my PPOR for 2 months seems like I can reset the 6 year. Meaning no CGT on the 6 year period to date. So given I own both properties but on…[Read more]
runnyman replied to the topic Capital Gains Tax in the forum Help Needed! 3 years, 8 months ago
Yes Terry I previously lived in the IP from June 2011 to June 2015.
So does this mean if I move back in prior to June 2021 then the 6 year would reset?
runnyman started the topic Capital Gains Tax in the forum Help Needed! 3 years, 8 months ago
Hi there,
Wondered if anyone could advise!
I own 2 properties. One an IP since June 2015 and another my PPOR since July 16.
I am planning on undertaking renovations on my PPOR which will take a couple of months and as it happens my tenant is moving out of my IP at the same time. My question is….does the 6 year CGT period reset if I moved b…[Read more]
runnyman started the topic Investing with a friend in the forum Help Needed! 5 years ago
Hi all,
Wondered if anyone can help. I am planning on investing with a friend whereby I put up the initial deposit and they live in the property themselves and pay any associated loan and living costs. Are there any tax implications whatsoever for me? I would continue to live in the current property I own.
As we would be 50% joint owners just…[Read more]
runnyman started the topic In need of good Mortgage Advisor/Advice on Int only loans in the forum Help Needed! 5 years, 1 month ago
Hi all,
Wondering if you can help. I am currently in a enforced holding pattern as my current loan on my PPOR switched to P&I from interest only 12 months ago making it pretty expensive to service my loan. I currently running at around an LVR of 85-88%. My IP has an LVR of 74%. I would really like the ability to switch to interest only so I…[Read more]
runnyman started the topic Friend Moving In in the forum Help Needed! 10 years, 5 months ago
Hi all,
I wondered if anyone was able to help me. I have a friend who will be moving in with me 1st July and occupying two of the four bedrooms in the house (one for himself and one for his daughter). I intended to live in this property for another two years (and turn it into an IP) whilst saving for another house so this arrangement will help…[Read more]
runnyman replied to the topic Avoiding mortgage insurance in the forum Finance 11 years, 11 months ago
Hi Jamie,
I note your article says you can depreciate mortgage insurance over 5 years for an investment loan. I was just wondering if a portion of the mortgage insurance was still claimable if originally the house was a PPOR but later became an IP? (and the loan became an investment loan).
Sorry to reply to this thread but I am a new member and…[Read more]