Private ruling: Capital gains tax (CGT) and the main residence exemption
Date of advice: 25 September 2018
Published: November 2018
Ruling period: Year ended 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Are you entitled to a partial main residence exemption for your second property? | A1: Yes. Having considered the relevant factors, the Commissioner considers that you are entitled to the partial main residence exemption. Further information about this exemption can be found by searching ‘QC 52195’ on ato.gov.au

Relevant facts and circumstances: They purchased the first property after 20 September 1985 and it was then rented. They purchased their second property and began using it for rental purposes. They moved into their second Property and began treating it as their main residence. They later moved into the first property and were absent from the second property. The second property was sold.

Relevant legislative provisions: Income Tax Assessment Act 1997 section 118-110 | Income Tax Assessment Act 1997 section 118-145 | Income Tax Assessment Act 1997 section 118-185 | Income Tax Assessment Act 1997 section 118-190