Hi
There have been many topics covering converting PPOR to IP but I would like to know if I can convert an IP into a PPOR for tax purposes
For the loan I have looked to have it initially rented for a period but then will look to have it become our PPOR. I would like to live in it and would like to know if capital gains tax will apply if it converts from IP to PPOR
Is this possible and how would I look to structure it?
Will I have to pay capital gains later on as it will be registered for stamp duty purposes as an IP
We are looking to develop and want to know if I will pay tax on building down the track
Converting IP to PPOR
There have been many topics covering converting PPOR to IP but I would like to know if I can convert an IP into a PPOR for tax purposes
For the loan I have looked to have it initially rented for a period but then will look to have it become our PPOR. I would like to live in it and would like to know if capital gains tax will apply if it converts from IP to PPOR
Is this possible and how would I look to structure it?
Will I have to pay capital gains later on as it will be registered for stamp duty purposes as an IP
We are looking to develop and want to know if I will pay tax on building down the track
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