CGT on ppor that's is also IP

samedi 28 mars 2015

I was renting rooms in my principal place of residence and I was classing two thirds of the property as a negatively geared IP and deducting that net loss from my taxable income.

I now no longer do that and just live here myself.

If I sell my house will it be subject to capital gains tax on two thirds of the capital gains (gains made in the time 2/3s was an IP). Or does me living in it now as a purely principal place of residence reset that?

Thank you

CGT on ppor that's is also IP

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