Primary residence

[justo]

I am selling my primary residence and moving into an investment property I currently rent. Can you tell me how long I will have to live there before it becomes my primary residence. Ultimately I want to sell the investment property too, but to not want to incur Capital gains tax.

Cheers.

 

[ClubMan]

It becomes your PPR as soon as you move in. Some portion of any eventual capital gain over the total period of ownership attributable to the investment period will still be assessable for CGT. You cannot full wipe out any CGT issues by moving into a former investment property as your PPR. The longer you live there the smaller any CGT liability will become though.