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  1. #11
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    Quote Originally Posted by JustJaq View Post
    Not an accountant, but i don't think you need to live in it again. Just sell it within 6 years of moving out and starting to earn income from it? Must have been your primary residence first tho, as PP said, and u can't count anywhere else as your primary residence at the same time. Like PP said, i think moving back in does reset the clock though.
    So if it was my primary residence, then a rental and we sell it within 6 years without moving back into it we are exempt?

  2. #12
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    Like i said, I'm not an accountant, but that's how i understand it works. If you google ATO, CGT and main residence you should find info - sorry, on my phone.

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    babyla  (19-11-2015)

  4. #13
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  5. #14
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    Quote Originally Posted by JustJaq View Post
    Not an accountant, but i don't think you need to live in it again. Just sell it within 6 years of moving out and starting to earn income from it? Must have been your primary residence first tho, as PP said, and u can't count anywhere else as your primary residence at the same time. Like PP said, i think moving back in does reset the clock though.
    the moving back is to "reset the clock" and buy yourself another 6 years. if you want to sell the property, so long as the period it was rented is less than 6 years, you'll have full access to the main residence exemption.

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    JustJaq  (19-11-2015)


 

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