I bought a property in 2011 and lived there for 5 years then built 2nd property and moved in immediately and rented first property for 3 years then moved into 1st property and rented 2nd property for another 3 years then I sold 2nd Property. How CGT works on this situation and 6 years rules applies if I choose 2nd property as primary place of residence and if I do that then what happen when I sale 1st property?
If you choose property 2 as MR and apply 6 year rule to it, then property 1 cannot be MR for the same periods.
Property 1 needs to be valued at date first rented, and CGT will apply from that date.
If you choose property 2 as MR and apply 6 year rule to it, then property 1 cannot be MR for the same periods.
Property 1 needs to be valued at date first rented, and CGT will apply from that date.
@Bruce4Tax , thanks...I want to choose property 1 as main residence.so for CG, What date of Cost base or Market value of 2nd property should be taken? 2016 when I first moved in or 2019 when I first rented?Can I use Cost base of valuation done for depreciation in 2019? Thanks
15 Apr 2026 · 4 min read time
15 Apr 2026 · 8 min read time
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