Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p17
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 17/29)
Character Range: 2239942–2242980

118‑147 Absence from dwelling replacing main residence that was compulsorily acquired, destroyed etc.
118‑150 If you build, repair or renovate a dwelling
118‑155 Where individual referred to in section 118‑150 dies
118‑160 Destruction of dwelling and sale of land

Rules that may limit the exemption
118‑165 Separate CGT event for adjacent land or other structures
118‑170 Spouse having different main residence
118‑175 Dependent child having different main residence

Roll‑overs under Subdivision 126‑A
118‑178 Previous roll‑over under Subdivision 126‑A
118‑180 Acquisition of dwelling from company or trust on marriage or relationship 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
118‑197 Special rule for surviving joint tenant
118‑200 Partial exemption for deceased estate dwellings
118‑205 Adjustment if dwelling inherited from deceased individual
118‑210 Trustee acquiring dwelling under will

Special disability trusts
118‑215 What the following provisions are about
118‑218 Exemption available to trustee—main case
118‑220 Exemption available to trustee—after the principal beneficiary's death
118‑222 Exemption available to other beneficiary who acquires the CGT asset after the principal beneficiary's death
118‑225 Amount of exemption available after the principal beneficiary's death—general
118‑227 Amount of exemption available after the principal beneficiary's death—cost base and reduced cost base
118‑230 Application of CGT events E5 and E7 in relation to main residence exemption and special disability trusts

Compulsory acquisitions of adjacent land only
118‑240 What the following provisions are about
118‑245 CGT events happening only to adjacent land
118‑250 Compulsory acquisitions of adjacent land
118‑255 Maximum exempt area
118‑260 Partial exemption rules
118‑265 Extension to adjacent structures

118‑105  Map of this Subdivision
Note: The exemption may not be available for the main residence of a foreign resident.

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.
Note