Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_3:p13
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 13/17)
Character Range: 264529–267232

paragraph 118‑150(3)(b).

 (2) If the individual owned the interest in the land as a joint tenant, the surviving joint tenant or, if none, the trustee of the individual's estate, can choose to apply this Subdivision as if the *dwelling were the main residence of the individual:

 (a) when the individual died; and

 (b) for the shorter of:

 (i) 4 years before the individual's death; or

 (ii) the period starting when the individual *acquired the interest in the land and ending when the individual died.

 (3) If there was already a *dwelling on the land when the individual *acquired the interest in the land and someone occupied it after that time, the period in subparagraph (2)(b)(ii) starts when the dwelling ceased to be occupied so that it could be repaired or renovated.

 (4) If the *dwelling is treated as the deceased's main residence under this section, no other dwelling can be treated as the deceased's main residence at the same time.

118‑160  Destruction of dwelling and sale of land

 (1) This section applies if a *dwelling that is your main residence is accidentally destroyed and a *CGT event happens in relation to the land on which it was built without you erecting another dwelling on the land.

 (2) You can choose to apply this Subdivision to the land as if, from the time of the destruction until your *ownership interest in the land ends, the *dwelling had not been destroyed and were your main residence.

 (3) If you do so, you cannot treat any other *dwelling as your main residence during that period, except under section 118‑140 (about changing main residences).

Rules that may limit the exemption

118‑165  Separate CGT event for adjacent land or other structures

  The exemption does not apply to a *CGT event that happens in relation to land, or a garage, storeroom or other structure, to which the exemption can extend under section 118‑120 (about adjacent land) if that event does not also happen in relation to the *dwelling or your *ownership interest in it.

118‑170  Spouse having different main residence

 (1) If, during a period, a *dwelling is your main residence and another *dwelling is the main residence of your *spouse (except a spouse living permanently separately and apart from you), you and your spouse must either:

 (a) choose one of the dwellings as the main residence of both of you for the period; or

 (b) nominate the different dwellings as your main residences for the period.

 (2) If you nominate the different *dwellings as your main residences for the period, you split the exemption in accordance with subsections (3) and (4).

 (3) If your interest in the *dwelling you chose was not, during the period,