PPR exceptions to 6 month rule

It seems there's crossed wires here. I have always been referring to PPR = main residence = principal residence.

Are you saying I left out the 6 month part, or Paul did.
It was Paul who said
"And you can only claim ONE main residence exemption for any day of the year. You can only ever have ONE main residence."
I responded with the ATO guideline above referring to the 6 month 2 residence period.

 

The six month overlap rule is rarely used and is a possibility. Where a renovation occurs then the three month rule in s118-150 will also impact that and may prevent use of the main residence exemption at all. Meaning the overlap cant be used either

Trying to find a gap in the main residence exemption to squeeze tax free income from a activity or renovation is a concern no matter how hard you try to argue it "fits". Purchasing a home and using the property while also producing income through renovation mean that the income is ordinary income, there is no CGT exemption and the overlap rule cant be used either.

s118-150 also contains a choice that may prevent use of the overlap rule but its hidden in clause 5.

 

Agree with that. BUT...In combination with renovation its a rare issue. If anyone wants a twelve page posting I can also list all the other CGT issues surrounding a main residence exemption.