Bought a house for PPoR 3 months ago but want to rent it out

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Taxduck · Answer

Can't comment on whether it is possible. That's a personal decision. With regard to tax consequences, (CGT) as long as you had made the house your home (main residence) then you can continue to treat the house as your home after you move out. (up to 6 years if rented or indefinitely if vacant). No minimum time period for it to have been your home is stated in guidelines. Rule below Treating former home as main residence | Australian Taxation Office (https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/property-and-capital-gains-tax/your-main-residence---home/treating-former-home-as-main-residence) Renting means you need to declare the rent Rental income you must declare | Australian Taxation Office (https://www.ato.gov.au/individuals-and-families/investments-and-assets/residential-rental-properties/rental-income-you-must-declare)

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