answered
Q: Hi,
I bought a property in Nov 2006, moved in Mar 2007. Lived there until early 2010. It is leased out since Jul 2010. I have no other main residence until Jun 2014. It is sold in last month. It was my main residence from Nov 2006 to Jun 2014. As it was Home First Used to Produce Income, I should use value at time of it first rented as cost base. But I didn't have it valued. So, must I use purchase price as cost base?
Thank you!
Regards,
Laura
A: Thank you Suresh.
answered
Q: Hi,
I bought a property in Nov 2006, moved in Mar 2007. Lived there until early 2010. It is leased out since Jul 2010. I have no other main residence until Jun 2014. It is sold in last month. It was my main residence from Nov 2006 to Jun 2014. As it was Home First Used to Produce Income, I should use value at time of it first rented as cost base. But I didn't have it valued. So, must I use purchase price as cost base?
Thank you!
Regards,
Laura
A: Thank you Scott.
question
Q: Hi,
I bought a property in Nov 2006, moved in Mar 2007. Lived there until early 2010. It is leased out since Jul 2010. I have no other main residence until Jun 2014. It is sold in last month. It was my main residence from Nov 2006 to Jun 2014. As it was Home First Used to Produce Income, I should use value at time of it first rented as cost base. But I didn't have it valued. So, must I use purchase price as cost base?
Thank you!
Regards,
Laura
