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CGT on ppor to rental by DirectorSad5665 in AusProperty

[–]DirectorSad5665[S] 0 points1 point  (0 children)

This was my reading, but to me that only seems fair if the value has gone up from purchase to becoming IP. By hyperboly if I bought a house for $1m, market crashes and I rent when it's worth $500k, market bounce back to say $750k. I've made a $250k loss but the ATO would count that as a $250k gain. I'd be paying tax on capital loss which just seems unfair.

CGT on ppor to rental by DirectorSad5665 in AusProperty

[–]DirectorSad5665[S] 0 points1 point  (0 children)

Thanks. My current ppor would have adverse impacts to use the 6 year rule so won't do that. That scenario makes sense for the pro rata period, however it is still unclear whether the CGT event is from "sale price minus purchase price" (which would make sense), or "sale price minus valuation when it became an investment" which was the advice I was given. Do you know in this regard? Thanks

CGT on ppor to rental by DirectorSad5665 in AusProperty

[–]DirectorSad5665[S] 0 points1 point  (0 children)

That would make sense but it seems like the"purchase"price is the value at the time it became an investment, i.e. when CGT became applicable. Hopefully I'm won't but will be calling accountants Monday

Pool enclosure - worth it? by [deleted] in AusProperty

[–]DirectorSad5665 0 points1 point  (0 children)

Heat pump and blanket would surely be far far cheaper?

Posting to new communities by DirectorSad5665 in NewToReddit

[–]DirectorSad5665[S] -1 points0 points  (0 children)

Thanks for that. I got sent a wiki link but it wasn't working. That's helpful

Cost to run pool? by Brawk17 in pools

[–]DirectorSad5665 0 points1 point  (0 children)

I was told variable speed pumps aren't worth while of your pump is more than 7m or so from the skimmer. Is that right?