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Rozza(Newbie)Newbie
2 Sept 2024

If we are renting while we look for a home to buy, can we buy and leave the home vacant (until our rental lease period expires) and avoid paying CGT?

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147 views
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Taxduck(Taxicorn)Taxicorn
2 Sept 2024

May be exempt if you move in within 6 months. You may be eligible under this rule due to unforeseen circumstances. (that is if your scenario may be considered as unforeseen)

Moving to a new main residence | Australian Taxation Office (ato.gov.au)

But I am wondering why you would do this. Why pay rent when you have a vacant home?

Landlords generally don't have any problem finding new tenants if you break your lease.

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Most helpful reply

Taxduck(Taxicorn)Taxicorn
2 Sept 2024

May be exempt if you move in within 6 months. You may be eligible under this rule due to unforeseen circumstances. (that is if your scenario may be considered as unforeseen)

Moving to a new main residence | Australian Taxation Office (ato.gov.au)

But I am wondering why you would do this. Why pay rent when you have a vacant home?

Landlords generally don't have any problem finding new tenants if you break your lease.

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If I buy a property, but leave it vacant (due to renting elsewhere) is it subject to CGT? | ATO Community