You must live in a property for a minimum of 6 months to establish it as your PPR, after which you can move out and continue claiming it as your PPR for a maximum of 6 years while you live elsewhere (provided you continue residing in Australia).
QUESTION: Is it relevant whether that 6-month period is at the beginning of the property ownership, or can you (for example), rent it out for 2 years after buying it, then move in for the 6-month PPR establishment period?
Some accountants say that you must move in for 6 months immediately after buying the property, and that if you rent it out for a few years before residing in it for 6 months, you lose the right to move out and continue claiming it as your PPR for that 6 year period.
663 views
663 views8 replies
8 replies
663 views
8 replies