Your Investment Property forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Capital Gains Clarification

Notify me of new replies via email
Em | 27 May 2019, 10:42 PM Agree 0
I purchased a property in 2014. I lived in it for about 4.5 months before I rented it out. The current lease is about to run out and I am contemplating moving back in as my principal residence. Can you clarify the 6 year rule for CGT exemption does that only apply to selling it within the 6 years since first renting out or can it apply to moving back in as principal residence within 6 years.
  • Editor | 28 May 2019, 01:50 PM Agree 0
    Hi em, yes, moving back into the property would re-set the home as your PPOR, and you would pay no CGT due to the 6-year rule.

    This is assuming that you rented elsewhere and didn't own another PPOR whilst this home was rented out.
  • cwad | 30 May 2019, 06:09 PM Agree 0
    In relation to this post, if the above individual did own another PPOR at the same time, which was being lived in during the period the other property was rented, could he/she choose at tax time as to which property would be made PPOR?
Post a reply