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If I buy an investment property and rent it out for a year and then move in does anyone know how that effects negative gearing and capital gains tax.
Can I claim the full cost of stamp duty, what happens if you move in after six months ? And if you move in after the first year what are the capital gains implications if it then becomes principle place or residence.
Hey man, guess what? I’m a 16 year old school student as well. And I too have been reading up on Property Investment for about a year now, and have picked up a tonne of information along the way.
I’m anxiously hanging in there until the end of school and get a job, and get started on my path to success. I’ve just got to play the school “game” for a little while longer.
But the hardest thing for sure, is possessing knowledge and a dream of property investment and not being able to communicate it and talk about it with others. My parents don’t entirely understand the concept of property investment, and hence we have been renting houses for the last couple of years. Apparently its “uncool” or “nerdy” (peer’s oppinion) to be interested in this sort of stuff…whatever. But its good to know someone out there knows what I’m talking about.
So from now until the age of 18 – 20 I’m going to continue reading, learning and discovering all there is available to me on property investment.
And I wish you good luck for the future. Knowledge is power.
-Sam
