Hi all. I need some help and advice. I had two properties in my name A and B. Main residence was property A from 2000 until 2019. Property B was bought in 2017.
I sold property A in three months back (Aug-19). I was staying in the property A until it was sold and then moved to property B. I am looking to buy a property to live and to replace my previous main residence (A)with a new house which is likely to happen sometime next year (2020).
In terms of CGT/SLDT my questions are:
a. Can I buy a new property to be shown replacement of previous main residence next year and save extra 3% stamp duty, while staying at property B interim, on the basis of 3 year main residence replacement rule?
b. If I am unable to buy something in next 3 years, does property B becomes the default main residence or can be changed to main residence for CGT purposes?
Thanks
Tom
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