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Six-Year CGT rule, Tax on non-residents and CGT when selling a previously rented PPOR

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Your Investment Property | 20 Feb 2014, 01:21 PM Agree 0
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  • JW | 20 Oct 2016, 01:21 PM Agree 0
    Hi

    I have a property I bought and moved into as my principal residence in 2001. I then rented it out from 2002 (and had it valued at that point) to live with my parents before moving overseas in 2004.

    I rented in the UK until 2007 where I purchased a residential property again but in the UK and lived in it until 2015. In 2016 I moved back to Australia and rented a another place and continued to rent out my original property (the one bought in 2001).

    I am now selling and trying to work out if I am entitled to use the 6 year rule and for what period of time?

    Regards
    JW

  • MHB | 04 Nov 2016, 12:15 PM Agree 0
    Hi there, I would like to buy a house in Tasmania (I currently live in Sydney). The idea would be to buy the property and rent it for between 1 -3 years by which time I would be able to move to Tasmania and use the house as my home. I would expect to stay there for at least 5 years - probably much longer. While it was rented the property would be negatively geared. What does this mean for CGT if I sold the property? Regards MHB
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