All Topics / General Property / CGT again pls answer o mighty ones

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of fjficmfjficm
    Member
    @fjficm
    Join Date: 2003
    Post Count: 88
    March 5, 2004 - 1:08 pm

    Scenario 1
    If i have an investment prop which i rented out since the beginning for 5 years and i decide to live in it for 1 year after that, then rent it out again for the next 5 years, how am i going to be taxed

    Scenario 2

    Invesment prop, live in it for 1 year rent for next 5 years sell after. How am i going to be taxed then

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    March 5, 2004 - 1:17 pm

    Scenario one. You have 6 years from when YOU move out where you can sell and have a CGT exemption for those years.

    Scenario two. The same. Except if you sell within 6 years of you moving out you have 100% CGT exemption if you don’t have another PPOR.

    Cheers,

    Simon Macks
    Mortgage Broker
    http://www.mortgagehunter.com.au
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.