All Topics / Legal & Accounting / CGT on IP question.

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  • Profile photo of NEWGENNEWGEN
    Join Date: 2004
    Post Count: 151

    Hi all,
    I’ve got a question in relation to my investment property. I currently own a unit which I am renting out to my girlfriend for around the market rate. I’ve owned it for two years and am looking at possibly selling within the next two years. I am currently negatively gearing it and only claiming back about $1,000/year. I was wondering, would I be better off moving into the unit with my girlfriend and claiming it as my PPOR so that I pay less CGT when it’s time to sell? The unit was purchased for $175,000 and was valued 3 months ago @ $220,000.

    Any help would be much appreciated!


    Profile photo of melbearmelbear
    Join Date: 2003
    Post Count: 2,429

    Brandon, the CGT will be calculated pro rata based on the time it was a rental vs the time you lived in it. It may not be worth it. Guess it depends on your financials, and where you are living now etc. etc.


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