Tax Tip 568: “Intention” and the Main Residence CGT Exemption The main residence CGT exemption requires someone to move into the property as...
The main residence CGT exemption can only apply in full where the taxpayer moves in ‘as soon as practical’ because of Section 118-135 ITAA97 which...
Tax Tip 542: Main Residence Exemption – Non Resident never Lived in Property Buying a house and never living in it and being a non-resident can...
Tax Tip 537: Applying the 6 Year Rule to Multiple Properties There is a lot of confusion out there with the so called ‘6 year rule’ – which...
Please note that the 6 year rule for CGT is different to the 6 year rule for land tax. For CGT the main residence might be exempt from CGT even...
Hi all Here’s one for the brains trust... I understand that the Main Residence exemption may only commence on the date you start to reside in a...
I often see statements that the 6 year rule for CGT can only apply if the taxpayer does not buy another main residence. But this is not true!...
Hello! I bought my first property as an IP in Apr, 2021. It has been rented ever since. In early 2023 I will look to move in and live there. At...
person but the person that inherits it rents it out and sells in after 2 years? Normally if the property is sold within 2 years, (actually settles...
Hi there, because I have enough cash saving to offset my current home loan, rather than to clean debt, I got up loan approval to purchase max...
Hi Everyone, I engaged a builder to build a Duplex for me on my vacant block of land I had purchased. After the Duplex construction was complete,...
Hi all Can someone knowledgeable tell me how long I need to live in a PPOR before I can sell it without incurring cap gains tax? E.g. occupied a...
Whenever changing the ownership of property you will need to consider the CGT implications. Generally, CGT will only apply to the portion of the...
Hi all, Looking for some advice regarding a knockdown rebuild of my parents current main residence. Here’s the situation: Our parents are...
Hi Guys, Don't shoot me on this topic, I just did 1 hour + of reading on previous posts and only found contradictory information. This...
There have been some substantial changes in the law in relation to CGT and non-residents. I have covered some of this here xxx These changes have...
The law in relation to capital gains tax does not restrict the main residence exemption to just one title block. A house could straddle 2 lots of...
Bob purchased a property, lived in it as his main residence, built two townhouses, planned to live in one and then finds out he isn't eligible for...
A few questions you will need to ask yourself 1. Have you purchased a property that will become your main residence and you currently have a...
There is no need to move back into a property to be able to use the ‘6 year absence rule’ for CGT, s118-145 ITAA97. Example Maggie buys her...
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