Still a little confused about the CGT. If the property is PPOR can it be sold within 12 months without paying any CGT, or in other words how many months must the propety be held before having to pay this tax.
i’m pretty sure if its your PPOR u dont ever have to pay CGT
NEO
NICE ONE BRUVA!! Nice One Bruv! nice one
[:X]PPOR are exempt from CGT. You can have your PPOR on up to 2 hectares of land and the whole lot is CGT free. If your PPR is on 2 hectares or more then the house and 2 hectares is CGT free and the rest of the land will trigger CGT. If you have a PPR and move out of it and rent it you have a 6 year window in which to still get the house CGT free as your PPR – however, you cannot have another PPR in that period. The ATO don’t actually seem to have anything that says what constitutes a PPR.[?][?] I’d be very interested to hear from anyone who knows of an ATO Ruling which clarifies the issue of what constitutes a PPR – other than the standard information relating to the suitability of the structure for human habitation.
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