All Topics / Help Needed! / Back to the basics – renting out PPOR

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  • Profile photo of drec0007drec0007
    Member
    @drec0007
    Join Date: 2004
    Post Count: 7
    August 12, 2008 - 2:46 am

    I have been offered an interstate job which comes with free housing. At this stage we are only looking at moving for approximately 5 years so have decided to rent out our PPOR. I noticed a previous post stated that I would not be subject to CGT if I moved back within 6 years. Apart from this time limit and getting a good property manager, can anyone provide any advice on what to be aware of?

    Thanks.
    drec0007

    Profile photo of elkamelkam
    Member
    @elkam
    Join Date: 2006
    Post Count: 722
    August 12, 2008 - 8:18 am

    Hello drec0007

    Make sure you have good insurance ( house & contents, public liability & landlords )

    Enjoy the new job
     Elka

    Profile photo of pyramidpyramid
    Participant
    @pyramid
    Join Date: 2005
    Post Count: 64
    August 12, 2008 - 9:16 am

    I would consider getting an independant property valuation before and after renting so that it is clear what portion of the gains should be CGT free

    Profile photo of Casper_1000Casper_1000
    Participant
    @casper_1000
    Join Date: 2004
    Post Count: 35
    August 13, 2008 - 7:24 am

    I read somewhere ( I think it may have ben this forum) that when you move back in after 6 years you must move back 'completely' in order to satisfy the ATO that it is once again your PPOR.   This means utility bills, bank statements and drivers licence should be back to the PPOR and not some interim address.

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