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Hi all,
I have just sold an investment unit and I have another house as an investment aside from my PPOR. I am about to sell my PPOR which I have reno'd to purchase another house. I plan to reno the new house and make it my PPOR altough I definately plan to sell within 12 months.Can somebody please explain why I would not purchase the new house as PPOR as I both need somewhere to sleep and I pay no tax on my gains. Would there be any point in buying under a company name as I will then incur tax liabilities.Look forward to your replysThanksKenHello Ken
Seems to me that buying the next property as your PPOR is the smart way to go exactly for the reasons you've mentioned. Sounds like a good strategy to me while it lasts.
The only thing to watch is I don't how many of these "buy PPOR, reno and sell" houses the ATO will allow you to do before they decide that your running a business doing this and tax you accordingly. I guess your accountant will have a better idea of this.
Hope this helps
ElkaThanks Elka,
I'll have a chat to the accountant for sure. Thanks for your input and good luckKen
Viewing 3 posts - 1 through 3 (of 3 total)
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