Hi there,
I have a question re:CGT. I purchased a property (Property A) in September 2011 and lived in it for 6 years. I moved out in August 2017, and have rented it out ever since. Ever since moving out I have been paying rent on another property (Property B). I am treating Property A as my main residence because I lived in it immediately after purchasing it and have been renting it out for less than 6 years. Since moving out of my main residence I have purchased another property (Property C) which is purely an investment property (that is, I have not lived in it). I now wish to sell Property A (my main residence which I am not living in). Does Capital Gains Tax apply to the sale of Property A? If so, what value of Property A is subject to CGT? FYI, Property A was purchased in 2011 for $400K, valued at $650K in 2016, I moved out and subsequently tenanted the property in 2017. Market value today is estimated to be around $750K.
Thank you for your help and apologies for the long message. Johnny
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