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Navigating CGT while living in multiple residences

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Your Investment Property | 13 Feb 2012, 12:00 AM Agree 0
Q: We’ve turned our PPOR into an investment property and moved to a rental property closer to work. My understanding is that we can sell our property within six years of first renting it out and still benefit from its capital gains tax exemption as our PPOR, but what will happen if we decide not to sell and move back into the property to preserve its status as our PPOR? How soon after moving in can we sell without having to pay CGT?
  • Li | 14 Feb 2012, 05:55 PM Agree 0
    Hi, I just had a following up question. If I have a PPOR and now I'm married and live with my husband who has his own PPOR. Is it still possible to treat my PPOR as PPOR indefinitely, if my mum moves in and I'm not leasing it to her. Or put more simply as far as the ATO is concerned my PPOR is not been leased, my concern is would they believe it to be true?

    As logically most people would not have the place empty, or would the ATO believe you are not collecting rent from the person leaving there?
  • YIP | 15 Feb 2012, 08:34 AM Agree 0
    Thanks for your question Li. If you'd like to email your question to editor@yipmag.com.au, the team can take a look at passing it on to one of our tax experts to find an answer for you.
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