Hi Guys, New to this forum and have enjoyed reading the posts and realise there is some great knowledge on here. I have somewhat of an abstract question. Background. · I have been living in my PPOR since 2015 (Sunshine Coast). · In 2015 the house was a renovator and I have nearly completed renovations suitable to lease out long term. · Plan has always been to fix up, lease out and hold until I kick it. (I have 3 IPs). · I will be moving into one of my other properties in July 2021. Question How do I BEST lock in the value to date so that if my plans change and I need to sell, I can minimise my CCT exposure? I will have a depreciation schedule completed but should I engage a valuation(?) or get something from R/E agents? Have any of you done similar and have any general advice on the same? Thanks in advance!
instruct your own valuer on the date that it becomes income producing - or just before. Tell them what it is for and ask for an amount as high as possible. This is assuming you can claim the property as your main residence until that point.
