澳洲Australia property If you buy a PPOR and then move out and r


在澳大利亚 I have been looking at units in Sydneys upper North Shore. Only in Ku-Ring-gai so up to Wahroonga. The area seems to offer good fundamentals, is very popular and in general seems to be a lovely place. My favoured location to buy I think is G Appologies for all the threads, I dont have much time to get organised before the auction on Saturday. I had a question about the solicitor/conveyancing fees. I remember last time I had this done it cost over $1000. But that was soliciting t


If you buy a PPOR and then move out and rent it out - can you then claim tax deductions on any net loss.
Or can you only negative gear if the property was initially brought as an investment. I.e. you paid investment stamp duty.
I know this is an often asked question i am just not sure of the answer. I think it is NO but I just want to double check.
Gracias
Jesse  

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Gatoblanco said: ↑
If you buy a PPOR and then move out and rent it out - can you then claim tax deductions on any net loss.
Or can you only negative gear if the property was initially brought as an investment. I.e. you paid investment stamp duty.
I know this is an often asked question i am just not sure of the answer. I think it is NO but I just want to double check.
Gracias
JesseClick to expand...
Yes, you can. You can change your PPOR to an IP. But as soon as it becomes an IP you also lose the CGT exemption.
Alex  

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Was the loan only used totally towards the purchase of the property? Or was there redraw and other consolidation involved?

If it's not 100% for purchase, you'll need advice from your accountant who can try and calculate the deductable interest percentage.

Dan  

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Doesnt it depend on why the loan was taken out in the first instance? Which was for the purchase of a residential property? Or can it change later.  

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It depends on the purpose of the funds. For example if you consolidate personal debt into the home loan, then the purpose could be mixed. Run it by the accountant and let your accountant know about any funds that have been drawn from the loan including topups, redraws etc.  

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Jesse,

The situation you have outlined is covered on the ATO web site. My understanding is any rental income forms part of your income but you are entitled to claim the costs incurred in gaining that income such as rates, interest etc. There is also a six year window which allows you to rent your PPOR without losing CG exemptions, however you cannot have more than one PPOR at a time, so if you are renting elsewhere you could continue to be eligible for CG exemptions for up to 6yrs, but if you buy another PPOR you would only be able to claim interest costs etc for your original property as you would for any rental property.

Hope this helps :)
Tom  

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This months API magazine has an article on this, they said that if you move back in every 6 years you can keep the CGT exemption unless you die living somewhere else.

There is also a very good calculator in the excel thread on this website that people post excel spreadsheets in that works out the cost benefit of renting out your PPOR and renting somewhere else.  

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alexlee said: ↑
Yes, you can. You can change your PPOR to an IP. But as soon as it becomes an IP you also lose the CGT exemption.
AlexClick to expand...
You can use the PPoR as an IP for up to 6 years before you lose the CGT exemption, and claim depreciation which is not added back to the cost base.

You can even move back in before the 6 year cut-off, then move back out and use it as an IP again for another 6 years without incurring any CGT.  

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I spreadsheeted a comparison of buying your first home as a PPR or IP, IN QLD.

I've also produced a 7 year comparison of:
- holding the property as a PPR
- moving out after 12mths and renting it out while you go rent somewhere else cheaper
- continue renting and put the same funds into leveraged shares.

An analysis like this always depends on the assumptions, but they can be played with better than any calculator I have seen on the net....I have checked the formulae pretty carefully now over 2 mths and believe there are no errors, but I make no guarantee.

Keep in mind if you buy first home as an IP, I believe in most states you can still later claim the FHOG, but I am unsure of the stamp duty concession.

Also keep in mind you may have to live in the PPR for a full 12 mths to not forfeit the stamp duty concession. I think the FHOG only requires 6 mths, or I might have them reversed. I think if you have a good reason to move like a job transfer, you can wangle out of it though.

Have just update the resources here  

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