Hello,
My primary place of residence is currently being rented out while I work away for a few years. I'm currently looking at getting another investment property which in the future I plan to live in and later sell. Whilst living in the second property I'm thinking I will sell my first and not pay any capital gains (as it is my PPR), then make the second property my primary place of residence and sell a year or so later. Will I be able to sell the second property without paying any capital gains, even though it was an investment property for the first 3-4 years? Will I have to pay capital gains on those years?
Cheers,
Leah
No, second property will be subject to CGT.
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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