My accountant didn’t know either…

Anyone else got any further thoughts on the situation?

Does the 6 year rule still apply if you return back and live in the property and become australian resident?

Hi Terry,

Bringing this topic back given I have seen there have recently been changes for expats.

Has the 6 year rule been abolished for expats or is this only if you sell your property whilst resident overseas.

Here is an example situation:

1. house purchased in October 2009

2. Lived in it for 18 months to April 2011

3. Rented it out for…[Read more]

Hi Terry,

Bringing this topic back given I have seen there have recently been changes for expats.

Has the 6 year rule been abolished for expats or is this only if you sell your property whilst resident overseas.

Here is an example situation:

1. house purchased in October 2009

2. Lived in it for 18 months to April 2011

3. Rented it out for…[Read more]

Hi Terry,

Bringing this topic back given I have seen there have recently been changes for expats.

Has the 6 year rule been abolished for expats or is this only if you sell your property whilst resident overseas.

Here is my situation:

1. I purchased a house in October 2009

2. Lived in it for 18 months to April 2011

3. Rented it out for…[Read more]

?

just read the whole act.

The rules need to be registered on title if the owners corporation has its own rules.

Ours has not set its own rules and therefore the Model Rules seem to apply

Schedule 1 outlines

5 Lots

5.1 Change of use of lots.

5.2 External appearance of lots.

5.3 Requiring notice to the owners…[Read more]

https://www.consumer.vic.gov.au/housing/owners-corporations/property-maintenance/maintaining-and-renovating-individual-lots

As a lot owner in an owners corporation (formerly body corporate), you:

are entitled to renovate or refurbish the interior of your apartment or unit. You must notify your owners corporation if the renovations require a…[Read more]

According to:

https://www.propertyandlandtitles.vic.gov.au/land-titles/owners-corporations

All owners corporations have rules for the control, management and use of common property and lots. The rules cover day-to-day issues such as safety, parking and noise.

If an owners corporation does not make its own rules, a set of model rules which are…[Read more]

I have just brought up the owners corporation search included in the initial auction contract.

It outlines:

Limitations on Owners Corporation: Unlimited
Rules: Model Rules apply unless a matter is provided for in owners Corporation Rules. See Section 139(3) Owners Corporation Act 2006
Owners Corporation Rules: NIL
Notations: NIL

Based on the…[Read more]

How do I check if approval is needed? Is there a specific document that governs the body corporate? I can’t find any by-law document from when I purchased the unit.

Anyone got any interesting deals worth discussing?

Nice thread

Assuming a house qualifies as a PPOR, for each interval that it is rented out for >6, then you move back in, then rent it out for another interval >6 years, on each interval it has been rented out >6 years does the 6 year exemption apply to that interval or does it wash away completely once it has been rented out >6 years.

Reason I ask is…[Read more]

Assuming a house qualifies as a PPOR, for each interval that it is rented out for >6, then you move back in, then rent it out for another interval >6 years, on each interval it has been rented out >6 years does the 6 year exemption apply to that interval or does it wash away completely once it has been rented out >6 years.

Reason I ask is…[Read more]

Assuming a house qualifies as a PPOR, for each interval that it is rented out for >6, then you move back in, then rent it out for another interval >6 years, on each interval it has been rented out >6 years does the 6 year exemption apply to that interval or does it wash away completely once it has been rented out >6 years.

Reason I ask is…[Read more]

What about this scenario:

You live in a house for 3 years. You are posted overseas for 7 years and you rent it out during your absence. On your return you move back into it for 2 years. You are then posted overseas again for 4 years (again renting it out), at the end of which you sell the house.

Total period of ownership is 16 years.

Do you…[Read more]

What would happen if Bic moved back in after 01 Jan 2010, say 01 Jan 2011. Does he have to apply 1/11 or 4/11 to his gin?

That is, if you are absent for more then 6 years but move back in again, can you get benefit of a new 6 year period from the moment you move back in again?