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Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of runnymanrunnyman
    Participant
    @runnyman
    Join Date: 2012
    Post Count: 4
    June 7, 2022 - 9:58 am

    Thanks for the advice Benny, I’ll get onto the chat function for confirmation of this.  All the best!

     

    Profile photo of runnymanrunnyman
    Participant
    @runnyman
    Join Date: 2012
    Post Count: 4
    June 2, 2022 - 3:58 pm

    Cheers guys!

    Profile photo of runnymanrunnyman
    Participant
    @runnyman
    Join Date: 2012
    Post Count: 4
    March 29, 2021 - 8:34 am

    Hi Terry sent you a quick email.  Hope you didnt mind taking a quick look at it.

    Much appreciated!

     

    Profile photo of runnymanrunnyman
    Participant
    @runnyman
    Join Date: 2012
    Post Count: 4
    March 8, 2021 - 1:29 pm

    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 only 1 can be my main residence.  If I am only going to be living in my IP for 2 months then really is there any tax implications on my usual main residence as it wont be lived in or rented out for that 2 month period anyway?  I guess what I am saying is I understand you cant have 2 main residences but if I am allowed to move back into my IP for 2 months to reset is there any significant tax consequences on the property I move out of for that short period.

    Thanks again Terry!

    Profile photo of runnymanrunnyman
    Participant
    @runnyman
    Join Date: 2012
    Post Count: 4
    March 5, 2021 - 10:19 am

    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?

     

    Profile photo of runnymanrunnyman
    Participant
    @runnyman
    Join Date: 2012
    Post Count: 4
    December 26, 2012 - 7:26 am

    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 can't work out how to set up a new post!

    Your advice here is much appreciated.

    Thanks,

    RM

Viewing 6 posts - 1 through 6 (of 6 total)