Taxation Determination TD 92/174







This Determination, to the extent that it is capable of being a 'public ruling' in terms of Part IVAAA of the Taxation Administration Act 1953, is a public ruling for the purposes of that Part. Taxation Ruling TR 92/1 explains when a Determination is a public ruling and how it is binding on the Commissioner. Unless otherwise stated, this Determination applies to years commencing both before and after its date of issue. | [ Note: This is a consolidated version of this document. Refer to the Tax Office Legal Database ( http://law.ato.gov.au ) to check its currency and to view the details of all changes.] | 1. A dwelling chosen or nominated under subsection 118-170(1) of the ITAA 1997 [1] may be one which is deemed to be a person's main residence because of section 118-145. | Example: 2. A husband and wife own a pre-CGT house which they both occupy. Due to a change in employment, the husband moves to another town and they acquire another (post-CGT) house on 1 July 2000. The husband occupies this house for 2 years during the course of his employment contract. On 1 July 2002, he returns to the pre-CGT house which he then continues to occupy with his wife. The post-CGT house is sold within six years of the husband ceasing to occupy it. | 3. To obtain a full main residence exemption on disposal of the post-CGT house, the husband must make a choice under section 118-145 to treat that house as his main residence for the period 1 July 2002 until disposal. The husband and wife can then choose to treat the post-CGT house as their main residence under paragraph 118-170(1 )( a) for the entire period that they owned it. | 4. If the husband does not make the choice under section 118-145, neither would be entitled to an exemption for the period after the husband ceased to occupy the post-CGT house. | Commissioner of Taxation 22/10/92 | Footnotes: Previously Draft TD 92/D151


Related rulings: TD 92/172 TD 92/173
Legislative references: ITAA 1997 ITAA 1997 118-170(1) ITAA 1997 118-170(1)(a) ITAA 1997 118-145
Subject references: CGT main residence exemption nominated dwellings