Private ruling: CGT - main residence exemption
Date of advice: 12 August 2021
Published: October 2021
Ruling period: Year ended 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Are you able to use the absence rule and claim the main residence exemption for the period XX 20XX to XX 20XX for the property? | A1: Yes. Based on the information provided to the Commissioner you purchased a property in the 20XX income year. You lived in the property for a number of years and rented it out for a period greater than X years. You did not treat any other property as your main residence during this period. You are electing to use the absence rule for the period it was rented out up to X years. The main residence exemption will apply during this period.

Relevant facts and circumstances: You purchased a property in the 20XX income year. Settlement took place X months later. You moved into the property on the settlement date. You lived in the property for a number of years and then rented it out. You moved interstate for work. You put the property on the market a number of years later. During your absence from the property you treated it as your main residence, and you did not have any other main residence. You elect to use the absence rule under section 118-145 of the Income Tax Assessment Act 1997 for up to X years.

Relevant legislative provisions: Income Tax Assessment Act 1997 section 118-145


This ruling applies for the following period: