Hi guys, a quick one for the bean counters, Is it legal to buy property renovate and sell it in 13 months and pay no CGT as its PPOR but technically just rent elsewhere whilst carrying out the works? Or would you have to rent off the books? Thanks in advance!
If you are not living in the property it cannot be the main residence. But there is an exemption for something like this but you have to move into the property and live in it for at least 3 months (from memory). But if you are doing this to make money it would be taxable.
Where will your mail go to? Your bills, licence etc? If anyone checks you will be found out if not really living there. It is supposed to be your PPOR (as in Principal Place of Residence).
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