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  • Profile photo of easymoneyeasymoney
    Member
    @easymoney
    Join Date: 2005
    Post Count: 53
    October 8, 2005 - 2:19 am

    Hi guys,

    I am looking at renevating my PPOR then renting it out. I have bought a cheap home in Coober Pedy for cash using the euity in my home.

    I wish to buy a cheap house with the remainder of the equity making it my PPOR then renevate it for a quick profit.

    I am wondering if I rent out my PPOR I currently own, is it true that if I sell it within 6 years I don’t have to pay any capital gains tax on it.

    Regards

    easymoney

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    October 8, 2005 - 3:25 am

    only if you do not claim any other home as your PPOR at the same time.

    Terryw
    Discover Home Loans
    Parramatta
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of easymoneyeasymoney
    Member
    @easymoney
    Join Date: 2005
    Post Count: 53
    October 8, 2005 - 3:47 pm

    Bummer, not what I wanted to hear.

    Sounds like I’ll have to get my sister to buy it n I’ll pay her $7 0000 for her troubles.
    Putting it in the girlfriends name could be a risky investment.

    Regards

    easymoney

Viewing 3 posts - 1 through 3 (of 3 total)

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