How much CGT due after moving and renting out primary residence in Australia?
How long do you have to live in a house to avoid capital gains tax?
two years
Avoiding a capital gains tax on your primary residence
You’ll need to show that: You owned the home for at least two years. You lived in the property as the primary residence for at least two years.
How can I avoid paying capital gains tax on a rental property?
4 ways to avoid capital gains tax on a rental property
- Purchase properties using your retirement account. …
- Convert the property to a primary residence. …
- Use tax harvesting. …
- Use a 1031 tax deferred exchange.
How do I avoid capital gains tax on investment property in Australia?
How can I avoid or minimise capital gains tax?
- Note the date of purchase. …
- Use the principle place of residence exemption. …
- Use the temporary absence rule. …
- Utilise your super fund. …
- Increase your cost base. …
- Hold the property for at least 12 months. …
- Sell during a low income year. …
- Invest in affordable housing.