Join our investing community

PPOR / CGT Exemption / Non-residents

Discussion in 'General Investing Discussion' started by Darkswan, 29th Mar, 2013.

  1. Darkswan

    Darkswan New Member

    Joined:
    28th Mar, 2013
    Posts:
    2
    Location:
    Brisbane, Qld
    Greetings all! First time posting. I'm presently living overseas, renting out my Principal Place of Residence, and am aware of the 6 year rule in order to claim the CGT exemption upon selling it in the future. Is anyone aware of exactly just HOW LONG I am required to live in the house again upon return to Australia in order to RESET the 6 years?
    I am also curious about the new ruling of non-residents no longer being able to qualify for 50% CGT discount at 8 May 2012. Have any new details been forthcoming?
    Many thanks!
    Brett
     
  2. Terryw

    Terryw Well-Known Member

    Joined:
    9th Jun, 2006
    Posts:
    653
    Location:
    Sydney
    The legislation does not contain any time period - s118.145.
    You must be there long enough to establish it as your main residence again.