Aug 02, 2019 Firstly, depreciation is a tax deduction available to property investors. It allows you to claim a tax deduction for the wear and tear over time of any eligible old or new investment property.
As per the Australian Taxation Office, you are typically exempted from paying capital gains tax for a main residence. Specifically, the property must contain a dwelling, and you must have resided in that dwelling
Temporary absences from your home during the year do not constitute the property ceasing to be your main residence
Income Tax Assessment Act 1997 allows you to treat the property in the same way as your former partner. This allows you to treat 100% of the home as your PPOR where applicable.
I will always advise that you borrow the maximum that you can and save your cash for nondeductible assets, such as a principal place of residence.
Establishing a property as a main residence (MR) by occupying it immediately after purchase will make it exempt from capital gains tax (CGT) when later sold.