Hey guys,
We are about to move into our almost completed house and I have a quick question.
Will the property (PPOR) be exempt from CGT if we were to sell it after only 3 months of living there?
Thanks
Probably, but will depend on the circumstances.
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
It will depend on whether you have any other property that could be called your ppor during this period amongst other things
Ok. Yes I have a second property that will be vacant ready for when I move in… The tenants in there will be moved on approximately 2 weeks before I am due to transition from house A to house B. What do you think?
First property could still be CGT free depending on the circumstances.
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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