Private ruling: CGT- main residence
Date of advice: 23 June 2021
Published: September 2021
Ruling period: Year ending 30 June 20XX | Year ending 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Are you eligible for a full main residence exemption for property A? Answer Yes. Having considered your circumstances and all the relevant factors, we accept that you are entitled to claim the main residence exemption for your entire period of ownership of property A. Further information can be found by searching QC 22168 on our website ato.gov.au.

Relevant facts and circumstances: You acquired property A as sole owner. On the day settlement occurred you and your spouse moved all your possessions from your previous main residence into property A and commenced living there. You acquired property A because you and your spouse had decided it was time for a lifestyle change. Your electoral roll address is listed as property A and it is recorded on your land tax statement as your principal place of residence. At the time you acquired property A, your employment was located in city B which is X kms away. To reduce your commute, you rented an apartment through Air BNB in city B for a short period of time. You then purchased an apartment in city B (property B). You only furnished it with the essentials to be able to stay there overnight while working in city B. You spent no leisure time there and did not have friends visit you there. Overall, you spent at least half the first year after acquiring property A staying at property A. You then became unemployed for a period and subsequently found employment that allowed more flexible working from home arrangements. From that time, you and your spouse spent a large majority of your time at property A. As you were able to work from home more, you decided to stop staying at property B and rent it out instead. You and your spouse have not stayed at property B for more than a year. You have decided to move to another area and consequently have entered into a contract to sell property A.

Relevant legislative provisions: Income Tax Assessment Act 1997 section 104-10 | Income Tax Assessment Act 1997 section 118-110 | Income Tax Assessment Act 1997 section 118-145


This ruling applies for the following periods: