Hi Team, I have a question regarding the Capital Gains Tax (CGT) for my current situation. Here is the scenario: I built a house in 2020 and have used it as an investment property since day one, without claiming the First Home Buyers Grant. Now, we are planning to sell this investment property and purchase an existing house (not brand new) to use as our primary place of residence (PPR). My question is : If we use the profits from selling our investment property to buy our new home, are we eligible to reduce or avoid CGT on the sale? I would appreciate any information or guidance you can provide regarding this matter.
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489 views
1 replies