Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 1/12)
Character Range: 2271458–2275280

2                                                             the deceased *acquired the *ownership interest before 20 September 1985                                                                                                                                                                        the *dwelling was, from the deceased's death until your *ownership interest ends, the main residence of one or more of:
                                                                                                                                                                                                                                                                                                             (a) the spouse of the deceased immediately before the death (except a spouse who was living permanently separately and apart from the deceased); or
                                                                                                                                                                                                                                                                                                             (b) an individual who had a right to occupy the dwelling under the deceased's will; or
                                                                                                                                                                                                                                                                                                             (c) if the *CGT event was brought about by the individual to whom the *ownership interest *passed as a beneficiary—that individual

Note 1: You may make a capital gain or capital loss if the dwelling was used for the purpose of producing assessable income: see section 118‑190.
Note 2: In some cases the use of a dwelling to produce assessable income can be disregarded: see sections 118‑145 and 118‑190.
Note 3: There are special rules for dwellings acquired before 7.30 pm on 20 August 1996. These rules also affect the operation of section 118‑192 and subsections 118‑190(4) and 118‑200(4): see section 118‑195 of the Income Tax (Transitional Provisions) Act 1997.
 (1A) For the purposes of a provision of this Subdivision that applies the table in subsection (1):
 (a) disregard paragraphs (a) and (b) in column 3 of item 2 of the table if, just before the deceased's death, the deceased was an *excluded foreign resident; and
 (b) disregard paragraph (c) in column 3 of item 2 of the table if, at the time the relevant *CGT event happened, the individual was an excluded foreign resident.
Note: The other provisions that apply the table include paragraph 118‑192(3)(b), subsection 118‑200(2), paragraph 118‑225(3)(c) and section 118‑260.
 (2) Only these *CGT events are relevant:
 (a) CGT events A1, B1, C1, C2, E1, E2, F2, K3, K4 and K6 (except one involving the forfeiting of a deposit); and
 (b) a CGT event that involves the forfeiting of a deposit as part of an uninterrupted sequence of transactions ending in one of the events specified in paragraph (a) subsequently happening.
Note: The full list of CGT events is in section 104‑5.

118‑197  Special rule for surviving joint tenant
  This Subdivision applies to you as if the *ownership interest of another individual in a *dwelling had *passed to you as a beneficiary in a deceased estate if:
 (a) you and the other individual owned ownership interests in the dwelling as joint tenants; and
 (b) the other individual dies.

118‑200  Partial exemption for deceased estate dwellings
 (1) You get only a partial exemption (or no exemption) if:
 (a) you are an individual and your *ownership interest in a *dwelling *passed to you as a beneficiary in a deceased estate, or you owned it as the trustee of