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Hello Shelly,

I hope I have understood correctly, but if you are just selling the first property,(which is your PPOR/primary place of residence), then no capital gains tax is payable. This is in existence as that property was not used to create income.

Hope that hit the nail on the head.

Thankyou for your reply but no I meant that we are…

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I dont think you have to pay any CGT until you actually sold the property you are moving into and the amount of cgt depends on how many years the house was rented out…

So do you mean that if we sell our principal place of residence for say $350K then decide to reside in the now rented property and put about $100K into it then no cap…[Read more]