Leabee, unfortunately there is no one single answer to cover this issue. Like Terryw I have been playing in this field as a tax accountant for several years and agree that there is something new every day and many accountants and lawyers have difficulty with trusts.
There are just so many factors that it isn’t possible to have a one size fits…[Read more]
Peter replied to the topic Change of Main Residence – clarification required for CGT Exemption & 6 yr rule in the forum Legal & Accounting 3 years, 8 months ago
Its one of those things that can change depending on how the property market moves and you would really only need to decide when the 6 years is up or when you sell, if within 6 years. I would get a market valuation on Melbourne when you move out, as it ceases to be your PPR so CGT would only be on the increase after it ceases to be your PPR – so…[Read more]