What is the minimum number of months one should stay in a property to establish the PPOR before converting to investment property? Can I avail the 6 year rule CGT exemption for an property that was brought as an invesment property and maintained as PPOR in between? Do the 6 year rule CGT exemption apply on the PPOR, when I live on rent in the same city as my PPOR(which is rented out)?
Dude, use the search function and add your question to the existing thread(s). We really do NOT need another one on the 6 year rule. Unsure about CGT 6 years exception ruling Tax Tip 23: The 6 year Absent from Main Residence Rule Tax Tip 109: CGT and Being absent from the main residence for more than 6 years
Here is a list of more than 23 tips that I have written on this topic 23+ Articles on the 6 Year Rule - PropertyChat
Very confusing. A main residence exemption applies to actual occupation and use and perhaps a later absence if you move to rented property for example. But commecing this is a key issue. You cant "claim" a exemption because of ownership. You must commence a "main" residence. The period of time is not defined by law except a new build / renovation. However a short period of apparent occupnacy may be a fiction or merely a temporary residence not triggering eleigibility. Trying to make a property a main residence when it really isnt may be a concern. For the value of savings involved personal tax advice is often good value.
