Hi, hope someone could help. I bought my Principal Place of Residence (PPOR) of 3 beds 2 baths in 2010. I live by myself, so I thought of why not rent out some of the rooms to earn money, which started in 2011. I declared this to the ATO. 2015, I decided to stop renting the house out and just decided to live by myself.
Now it's 2023, I am planning to move overseas for the time being - and rent out all of the property.
To all the tax and property gurus, can someone enlighten me on what will be the CGT implications should I decide to sell my property in the future? I know my Principal Place of residence will be exempt from the CGT - but what about the fact that I rented some of the rooms out and earned money for a few years? Now, I am planning to rent out the whole house.
Hope someone can help me, I will be needing it. Thanks.
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