Just throwing a curveball into the mix.
I believe there is CGT on the sale of your residential property if you haven't been resident for a minimum period
Otherwise, what's the stop peeople from buying a fixer upper, making it your primary residence, Doing it up & selling it 6 minths later & then moving into another one & rinse & repeat.
Kerching!
I believe there is CGT on the sale of your residential property if you haven't been resident for a minimum period
To claim the whole exclusion, you must have owned and lived in your home as your principal residence an aggregate of at least two of the five years before the sale (this is called the ownership and use test). You can claim the exclusion once every two years.
Kerching!
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