I have a question with regard to the CGT exemption on a PPOR.
My scenario is, we’ve been living in newly constructed house for approx 4 months – this house is our PPOR. This house was constructed on a new parcel of land we subdivided on a property already owned.
We held onto our old PPOR house and we’ve been trying (unsucessfully) to rent out in for about the same duration we have lived in our new PPOR.
With 4 months of holding two mortgages, things are getting tight money wise, we have decided to sell up our new PPOR (as we have an interested party) and move back into our old house.
Will I qualify for the PPOR CGT exemption on the newly constructed PPOR house when I sell it?
Cheers – NJ
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