good news, page-13

stillthefoxhat the six year rule is basically as long as you lived in the property within six years you can claim it as a principle residence when you sell it, despite the fact you may have made hundreds of thousands of dollars in tax deductions from negative gearing from that property during that period.

If that is not a broken tax system I do not know what is! I know I will be relying on this to avoid paying CGT myself, this is despite making huge tax deductions from negative gearing from that property over the years.

But I do not want appear to be giving tax advice, so read the what the tax office says itself:

http://www.ato.gov.au/corporate/content.aspx?doc=/content/86191.htm