If we rent out our home while we're overseas can we still sell
without CGT implications?
Q.
We've lived in our house from the time we bought it and have
repaid the mortgage. We are moving overseas for a few years and
want to rent out the house. If, sometime in the future, we were to
sell the house will we need to pay CGT? That wouldn't be fair as we
have never tax-deducted any mortgage over it.
A.
You can be absent from your residence for up to six years
without losing the CGT exemption if you have not claimed any other
property as your residence in that time.
Each week financial advisor Noel Whittaker answers your
questions.
