If I sell the home in the next two to three years am I liable for
CGT?
Q.
I bought my first home last May using the first home owners
grant, and moved in for minimum six months as required and have
rented it since. I am now renting again in my preferred suburb. If
I sell the home in the next two to three years am I liable for
CGT?
A.
You can be absent from your residence for up to six months
without losing the CGT exemption provided you do not claim any
other property as your principal residence in that period. It would
seem it would be free of CGT when you sell.
Each week financial advisor Noel Whittaker answers your
questions.
