Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p4
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 4/12)
Character Range: 2279890–2282446

(4) Add to the component non‑main residence days in the formula the number of days in the period applicable under subsection (2) that the *dwelling was the main residence of an individual who:
 (a) owned the dwelling; and
 (b) was an *excluded foreign resident;
just before the individual's death.

118‑210  Trustee acquiring dwelling under will
 (1) This section applies if you are the trustee of a deceased estate and, under the deceased's will, you *acquire an *ownership interest in a *dwelling for occupation by an individual.
 (2) If a *CGT event happens to the interest in relation to the individual and you receive no money or property for it:
 (a) a *capital gain or *capital loss you make from the event is disregarded; and
 (b) the first element of the *dwelling's *cost base and *reduced cost base in the hands of the individual is its cost base and reduced cost base in your hands at the time of the event; and
 (c) the individual is taken to have *acquired it when you did.
 (3) If:
 (a) you receive money or property for the *CGT event happening or the event happens in relation to another entity; and
 (b) the dwelling was the main residence of the individual from the time you *acquired the interest until the time of the event;
you do not make a *capital gain or *capital loss from the CGT event.
 (4) However, if the *dwelling was the main residence of the individual during part only of that period, you make a *capital gain or *capital loss worked out using the formula:
where:
CG or CL amount is the *capital gain or *capital loss you would have made from the *CGT event apart from this Subdivision.
non‑main residence days is the number of days in that period when the *dwelling was not the individual's main residence.
 (5) Only these *CGT events are relevant:
 (a) CGT events A1, B1, C1, C2, E1, E2, E5, 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.
 (6) However, this section does not apply if, just before the deceased's death, the deceased was an *excluded foreign resident.

Special disability trusts

118‑215  What the following provisions are about

      The trustee of a trust that is or has been a special disability trust may be eligible for an exemption to the extent that a dwelling is the main residence of the individual who is or has been the