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Vivian | 07 Jul 2015, 12:45 AM Agree 0

I bought a investment property in may 2006 and have rented it out for the last 8 years, can I get an CGT exemption if i move into my rental property after I sell my main residence, and how long do I need to live in my rental property before I pay no CGT. Thank you

  • kulzerdipadova | 24 Jul 2015, 06:53 PM Agree 0
    I read an information stating "Individuals and small businesses (excluding companies) can generally discount a capital gain by 50% if they hold the asset for more than one year".

    Thanks for sharing..
  • julia | 26 Sep 2015, 09:25 PM Agree 0
    You are not going to ever be able to cover the property with your main residence exemption before your tenant moved out. The whole cgt needs to be calculated then apportioned. Utilize section 110-25(4) to increase your cost base by everything while you live there even cleaning materials
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