All Topics / Legal & Accounting / principle place of residence

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  • Profile photo of Freddo_frogFreddo_frog
    Member
    @freddo_frog
    Join Date: 2005
    Post Count: 8
    October 20, 2005 - 3:00 am

    Hi All,

    Im looking at selling a property in NSW and want to avoid capital gain tax. Could someone tell me how to change my principle place of residence to avoid this cost. The property is currently vacant.

    Profile photo of AUSPROPAUSPROP
    Participant
    @ausprop
    Join Date: 2003
    Post Count: 953
    October 20, 2005 - 3:44 am

    it is just something you elect, just put a file note in your tax file.. but the property can’t have been used to produce income and you can only have one PPOR at a time i.e. you cant just decide on the day you are sellign a property that it is PPOR and hence tax free. have a read thru the cap gains section of http://www.ato.gov.au – HEAPS of worked examples there.


    http://www.megapropertygroup.com

    INVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT

    Profile photo of Freddo_frogFreddo_frog
    Member
    @freddo_frog
    Join Date: 2005
    Post Count: 8
    October 20, 2005 - 11:34 pm

    thanks for the info,

Viewing 3 posts - 1 through 3 (of 3 total)

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