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adviced needed thanks.

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surfer89 | 06 Jan 2015, 10:26 AM Agree 0
Hi all I have just purchased a house in Newcastle. Cost was 740000 and I owe 450000 on the mortage. It is my first house so looking for some advice with tax.

I want to rent it out as an IP for a year or 2 and smash the offset account. After that I want to move in and renovate the house and make it my PPor to live in. I may want to sell but not for ten years at least. Just wanted to know if I need to live in the house first for cgt tax or make it an Ip straight away. Is this a good strategy? Income for the next two years will be in highest tax bracket. Thanks
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