Please could someone tell me… Do you pay Capital Gains Tax on your PPOR when you sell? Oh – and I’m in NSW. (It probably makes no difference, but with the half-baked “solutions” [satan] Carr [thumbsdownanim is coming out with lately, anything is possible.)
Allan.Tasman PropertyParticipant@tasman-propertyJoin Date: 2003Post Count: 126
No Allan, there is no CGT on your PPOR. Unless you have a REALLY bad accountant!
(I believe that later this year there will be no +CF deals left in NZ, so I’ve moved here to invest full time. I can find +CF deals for your NZ portfolio for a fee, just email me [email protected])Mortgage HunterParticipant@mortgage-hunterJoin Date: 2003Post Count: 3,781
The only exceptions I know of are where the house has been an IP before you move into it.
Or if you have claimed part of the mortgage on your tax because the home is also income producing ie home office or renting part out.
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Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.