Selling house & Building new house CGT Q?

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footsteps

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JUst wondering:
We are living in a house(we own) which we intend to sell once once our new house is built and ready to move in to.
What I need to know is when does the 12 months to sell start so we won't have to pay CGT?
I would like to think it is when we move to out new house?
 
footsteps said:
What I need to know is when does the 12 months to sell start so we won't have to pay CGT?
Click to expand...
It starts when you vacate the property as your PPR. Once you do that you have 12 months before CGT on some portion of any resale gain becomes an issue. If you dispose of it within that period then no CGT applies.
 
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