Another CGT question …
I purchased a property approx 3 years ago in WA, it was both, my partner’s & my ppor for 2 years, however only my name was on the deeds. After the 2nd year I refinanced the loan and included his name on the deeds. We lived in the property for a further 6 months before leasing it out.
Does anyone know if we will incur a CGT when we sell the property (not that we have intentions of doing so at the moment.). The property has appreciated by approx 50k in the past 3 years. We currently rent a property in another State.
Much appreciated.
Simba[buz2]
Since you both lived in it before renting it out, you would probably be able to rent it out for upto 6 years and treat it as your PPOR and therefore avoid CGT – if this is your only PPOR.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Click below to email meTerryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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