Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_3:p9
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 9/17)
Character Range: 254973–257765

Separate CGT event for adjacent land or other structures
118‑170 Spouse having different main residence
118‑175 Dependent child having different main residence
118‑180 Acquisition of dwelling from company or trust on marriage breakdown—roll‑over provision applying

Partial exemption rules

118‑185 Partial exemption where dwelling was your main residence during part only of ownership period
118‑190 Use of dwelling for producing assessable income
118‑192 Special rule for first use to produce income

Dwellings acquired from deceased estates

118‑195 Dwelling acquired from a deceased estate
118‑200 Partial exemption for deceased estate dwellings
118‑205 Adjustment if dwelling inherited from deceased individual
118‑210 Trustee acquiring dwelling under will

118‑105  Map of this Subdivision

[This is the end of the Guide.]

Basic case and concepts

118‑110  Basic case

 (1) A *capital gain or *capital loss you make from a *CGT event that happens in relation to a *CGT asset that is a *dwelling or your *ownership interest in it is disregarded if:

 (a) you are an individual; and

 (b) the dwelling was your main residence throughout your *ownership period; and

 (c) the interest did not *pass to you as a beneficiary in, and you did not *acquire it as a trustee of, the estate of a deceased person.

Note 1: You may make a capital gain or capital loss even though you comply with this section if the dwelling was used for the purpose of producing assessable income: see section 118‑190.

Note 2: There is a separate rule for beneficiaries and trustees of deceased estates: see section 118‑195.

 (2) Only these *CGT events are relevant:

 (a) CGT events A1, B1, C1, C2, E1, E2, F2, I1, I2, 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.

118‑115  Meaning of dwelling

 (1) A dwelling includes:

 (a) a unit of accommodation that:

 (i) is a building or is contained in a building; and

 (ii) consists wholly or mainly of residential accommodation; and

 (b) a unit of accommodation that is a caravan, houseboat or other mobile home; and

 (c) any land immediately under the unit of accommodation.

 (2) However, except as provided in section 118‑120, a dwelling does not include any land adjacent to a building.

118‑120  Extension to adjacent land

 (1) This Subdivision applies to land that is adjacent to a *dwelling (if the same *CGT event happens to the land or your *ownership interest in it) to the extent that you used the land primarily for private or domestic purposes in