All Topics / Legal & Accounting / CGT, 6 year rule and two properties sold in same FY

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  • ceegee123
    Participant
    @ceegee123
    Join Date: 2023
    Post Count: 0
    September 10, 2023 - 7:30 pm

    Just checking that I’ve understood things correctly and that PPOR1 can be treated as our main residence, while paying no CGT and claiming a capital loss for PPOR2.

    • PPOR1 bought June 2011 for $370k. Lived in it until Sept 2018 when it was rented out. Sold in May 2023 for $450k.
    • PPOR2 bought Sept 2017 for $575k. Rented out for one year until Sept 2018 when I moved into it. Sold in August 2022 for $535k.

    Can I elect to treat PPOR1 as my PPOR for the entire period of Sept 2018 to May 2023, and pay no CGT (and claim a capital loss for PPOR2)?

    Profile photo of BennyBenny
    Moderator
    @benny
    Join Date: 2002
    Post Count: 1,416
    September 15, 2023 - 7:08 am

    Hi Ceegee,

    I believe you have it right, but that is simply an opinion I have, based on reading articles from others who KNOW.  Hopefully someone with the proper credentials will come by to provide a proper response.  That is not me – sorry,

    Benny

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