Hi,
I am hoping to get help with the following question.
my family and I lived in a property in Sydney since 2012.
My wife, who is a medical professional, got a job in Newcastle (NSW) and thinking that we would be in Newcastle for the rest of our lives, we bought a house in Newcastle in October 2020. Our family moved there and the kids went to the local school in Newcastle
After a little bit more than a year we decided to move back to Sydney for both personal and professional reason.
During the time we were in Newcastle , we rented out our property in Sydney.
After moving back to our property in Sydney, we rented our propert in Newcastle for 3 months and then decided to sell it in July 2022. We made a 150k profit on the sale
We are now considering selling our property in Sydney where we lived for more than 11 years of which it was rented 1 year
My question is, if we sell the Sydney property, can I nominate both properties as my primary place of residence and avoid paying capital gains?
Thank you
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