Search results

Not sure where you are going with this??

Do you mean, if he lived in it for 1 year and then rented out 2 rooms? I would think the first year would be CGT and then possibly 2/3 of the property would be subject to CGT (assuming 3 bedrooms and tenants shared rest of house. ===== This works, but whether the trust can claim costs...

If your property is income producing then CGT may apply. Renting out rooms would mean the property is income producing. Boarders is not because you are just letting someone stay over. see para 17 of TR 2167 http://law.ato.gov.au/atolaw/view.htm?docid=ITR/IT2167/NAT/ATO/00001

it does make sense. The absence from main residence rule only applies when a person is absent from the main residence. If you are renting out rules while you are still there you are not absent so the rule won't apply.

Do the sums and work it out. It should be a simple mathematical answer - and then the not so simple personal and family preferences.