Hi,
A friend of mine purchased an apartment that he intends to be his PPOR. However, it was purchased with a tenant that has six months remaining on the lease. If he moves in as soon as the lease is up will he be liable for CGT if he claims deductions for the initial six months it was leased? Or would he be exempt from CGT as he wasn't legally able to move in? Can he avoid CGT if he doesn't claim any of the expenses for the 6 month initial lease period?
A friend of mine purchased an apartment that he intends to be his PPOR. However, it was purchased with a tenant that has six months remaining on the lease. If he moves in as soon as the lease is up will he be liable for CGT if he claims deductions for the initial six months it was leased? Or would he be exempt from CGT as he wasn't legally able to move in? Can he avoid CGT if he doesn't claim any of the expenses for the 6 month initial lease period?