Land Tax and CGT consequences of PPOR holiday let

Thinking of holiday letting 4-6 weeks a year PPOR over Xmas/NY period.
I understand this would have a pro-rata effect on CGT exemption if I ever sold ? Not sure though. Say I holiday let for a total of 2 years out of 20 years ownership would I be taxed on just 10% of the capital gain ?
And Land Tax (NSW)... still exempt or something liable there ? Any consequences for being let on the last day of the year ?

 

CGT - would depend on the circumstances, you may use the 6 year rule to be exempt.

Land tax has a concession from absences of the PPOR. Much stricter than the income tax laws. see clause 8 of Schedule 1A LMA:
LAND TAX MANAGEMENT ACT 1956 - SCHEDULE 1A

 

As you are absent from the ppor and renting the place on the census date (midnight 31/12) are you going to be liable for land tax?

 

Temporary absence isnt same as it ceasing to be your primary residence under land tax laws. Get advice. For the hassles and insurance concerns it may hardly be worth it. Consider a exchange ?

 

ok thanks... it looks like it is probably exempt from land tax according to that clause if you went for a holiday elsewhere and returned. The xmas period is quite lucrative so was looking at it from an extra income perspective.