All Topics / Legal & Accounting / How to change IP to PPOR?

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  • Profile photo of PropertyAllSortsPropertyAllSorts
    Member
    @propertyallsorts
    Join Date: 2003
    Post Count: 18
    October 20, 2005 - 3:58 am

    Hi!

    Can someone please advise on how to change an IP to PPOR? How long do we need to reside in it before we can sell it off without need to pay CGT?
    Many Thanks!

    PropertyAllSorts
    Doesn’t matter what type of property – as long as the figures stack up!!

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,213
    October 20, 2005 - 4:46 am

    It only becomes your PPOR once you live in it. Therefore if you have rented it out before living in it, you would most likely have to pay CGT for this period.

    Terryw
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    Parramatta
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    Profile photo of PropertyAllSortsPropertyAllSorts
    Member
    @propertyallsorts
    Join Date: 2003
    Post Count: 18
    October 20, 2005 - 6:04 am

    Thanks for your reply, Terry!

    PropertyAllSorts
    Doesn’t matter what type of property – as long as the figures stack up!!

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