Hi, I think I made some mistakes on my past tax returns and would appreciate some advice.
Here’s what happened:
- I bought a unit in Perth in 2018 and lived there as my main home until 2020.
- In 2020, I moved interstate and started renting out the Perth unit.
- In April 2022, I bought a house in Melbourne and lived there.
- In November 2022, I sold the Perth unit. I want to use the 6-year main residence rule for this unit.
- In April 2024, I sold the Melbourne house at a loss.
I have a few questions:
- Since you can only have one main residence at a time, was the Melbourne house considered an investment property (subject to capital gains or losses) from April 2022 to November 2022, until I sold the Perth unit? Then did it become my main home after that?
- If yes, do I need to calculate part of the capital loss on the Melbourne house for that period, even though I lived there?
- I never advised that I sold the property in Perth on my tax return in FY21-22 - Do I need to amend this or can I claim it in a later year? (there is no impact as it was exempt from capital gains).