I am about to purchase a unit. I can get the FHBG of $7,000 plus a $5475 stamp duty concession on the purchase price of 280k.
Would it be better to forfeit the concessions (total of 12,475 of post tax dollars) and rent it out straight off the bat for $270/week claiming stamp duty (8,275) + interest etc as deductions.
OR just wait the 12 months (have to live in there 12 months to claim S/duty concession) to claim the FHBG and s/duty concession then rent it out after the 12 months for maybe $280/week+
Cheers,
Alex
If you move in immediately for at least 6 months and claim it as your PPOR, then you can keep it CGT exempt for up to 6 years, even if you are no longer living there it still holds its CGT exemption. Just something else to think about.
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