Turning Ip into a PPoR

Discussion in 'Accounting & Tax' started by TonyE, 14th Mar, 2016.

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  1. TonyE

    TonyE Member

    Joined:
    18th Jun, 2015
    Posts:
    18
    Location:
    Cairns
    Hi Guys,
    Will be returning to civilisation in 2 months time and plan to move into an IP that will become a PPoR (was bought with this purpose in mind)
    What do people suggest I do?
    Should I get it revalued at that time?
    Can anyone share some other potential pitfalls I should consider?
    ( and any Job offers in Cairns would be great)

    Much appreciated, Tony
     
    TonyE, 14th Mar, 2016
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
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    Location:
    Australia wide
    No valuation needed as CGT will be worked out on a % basis.
    Keep a record of all receipts while living in it too.
     
    Terry_w, 14th Mar, 2016
    #2
    TonyE likes this.