All Topics / General Property / CGT on PPOR when selling?

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  • Profile photo of JustAllanJustAllan
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    @justallan
    Join Date: 2003
    Post Count: 168

    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.

    Profile photo of Tasman PropertyTasman Property
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    @tasman-property
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    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])

    Profile photo of JustAllanJustAllan
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    @justallan
    Join Date: 2003
    Post Count: 168
    Profile photo of Mortgage HunterMortgage Hunter
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    @mortgage-hunter
    Join Date: 2003
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    Allen,

    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.

    Cheers,

    Simon Macks
    Mortgage Broker
    http://www.mortgagehunter.com.au
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of JustAllanJustAllan
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    @justallan
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    Post Count: 168

    Ok, thanks Simon!

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