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6-year rules stands alone?

Discussion in 'Accounting & Tax' started by JohnPropChat, 29th Sep, 2015.

  1. JohnPropChat

    JohnPropChat Well-Known Member

    Joined:
    10th Sep, 2015
    Posts:
    567
    Location:
    Perth
    This still confuses me:

    If a property was an IP at purchase and then becomes a PPOR and becomes an IP again. Will the 6-year rule exemption apply to the second IP period?

    From the discussion from my other thread - the conclusion was that it stands alone but I only found articles on the web that contradict this and insist on the moving in as soon as bought https://propertychat.com.au/community/threads/ppor-cgt-exemption.3761/

    Is this a case-by-case rule or a general rule?
     
  2. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,400
    Location:
    Sydney
    Perhaps. Maybe not. The MRE only starts when you occupy at start. A load of variables apply to CGT and self diagnosis is like diy dentistry
     
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