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  • Profile photo of BrettBrett
    Participant
    @brettgarland
    Join Date: 2019
    Post Count: 0

    Hi.

    I am an everyday investor with a 4 properties. We are about to sell a house in Sydney as we have moved rural. We expect to make a large profit and from my research we should be exempt from capital gains with the 6 year rule. ( purchased 2014, moved out 2018 and has been leased for 12 months and selling as we have no plans to return). I have generally done my tax myself but now with multiple properties and the sale I am wanted to locate a tax accountant that specialises in property. Ideally in the Hunter/Upper Hunter area.

    Your advice is appreciated.

    Regards,
    Brett

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,110

    Has the property always been the main residence?
    Ever income producing before moving out?
    claimed another property as the main residence during the same ownership period?
    spouse had a different main residence during the same time?
    land less than 2 hectares?
    Tax residents?
    Not owning as a trustee?

    If none of the above applies it would probably be exempt from CGT.

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

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

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