We own a PPor and an investment property in thye same town. We intend to sell our PPoR and move into our investment home for 12 months to downsize. Will we pay CGT on the investment property when we sell it. It has been rented for three years so far .
Sounds like your capital gain will need to be apportioned between when the Investment Property was your PPOR and when it was not.
An accountant would be able to work this out for you,
Fletcher Tax Accountants
http://www.fletchertaxaccountants.com.auPlease note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.Will also depend on whether your investment went up during the time it was an investment.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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