All Topics / Help Needed! / A little bit confused with PPOR and IP, can I do what I want to do?

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  • Profile photo of spludgeyspludgey
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    @spludgey
    Join Date: 2010
    Post Count: 8
    November 6, 2010 - 9:48 am

    I'm buying a house with the FHOG. I understand that I have to use it as my PPOR for 6 months within the first 12 months after the settlement.
    Can I declare it to be an IP when I first buy it, then renovate it, convert it to a PPOR and claim all my renovations for negative gearing purposes? I'm planning to convert it to an IP again after the six months.
    Is it as easy to go from IP to PPOR and vice versa as I'm hoping it is? Or are there any formal steps and fees?

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