I did major renovations on my house which now became an investment property. Renovations are done between 7-9 years ago, $60k cost Do I need QS...
R&D claims love failed projects :) I would speak with R&D experts... Pm me if you'd like details
Great, thank you!!!
Tax time! I am sure this was asked before but I can't find the thread.... Could you please confirm, if the property was purchased before May 2017...
@Terry_w I followed your example from the link you've supplied Lets ignore business usage for now. CGT calculation with no business usage still...
Could you please help me understand why? What part am I misunderstanding??
Because of running a business for a short period of time there or something else please?
So to summarise: Purchase price in 2000 $500k Valuation when became IP $1,000,000 in 2010 (claimed 5 year PPOR until 2015) Sold $1,400 in 2020...
sorry for confusion Thats correct, once moved out never moved in back
Moved out 2010 and used 6 year rule until 2015 Tenanted 2010-2020 Sole trader in 2009
yes so 15 years PPOR
Didn't move in, done valuation as thats when PPOR became IP Why is all wrong?? It was used for business only 1 year and 5 years for rental
Thanks Terry, yes I actually followed your notes :) Just unsure how would I add sole trader part to that calculations? Can there be two calculations?
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