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_DC49(Initiate)Initiate
17 Aug 2021

Hi,

I bought my old unit and lived in there since January 2011. Then I rented it out in September 2015 until 31 of August in 2020. In 2019 August, l purchased an off the land, and the building is expected to be completed in November 2021. In November 2020, l sold my old unit. Can l claim both of my properties as main residence for the period of August 2019 to November 2020? Can my old unit be my main residence for that period?

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923 views
5 replies

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_KaraBATO(Community Support)Community Support
18 Aug 2021

Hi @DC49

You can only claim one of these properties as your main residence between August 2019 to November 2020.

When you move from one main residence to another, you are only able to claim both properties as your main residence for 6 months if all of the following apply:

    • you lived in your old home as your main residence for a continuous period of at least 3 months in the 12 months before you disposed of it
    • you did not use your old home to produce income (such as rent) in any part of that 12 months when it was not your main residence
    • the new property becomes your main residence.

    When you are building off the plan, you are able to claim this property as your main residence from the date you sign the contract if you move in as soon as practicable once construction is complete.

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    Most helpful reply

    _KaraBATO(Community Support)Community Support
    18 Aug 2021

    Hi @DC49

    You can only claim one of these properties as your main residence between August 2019 to November 2020.

    When you move from one main residence to another, you are only able to claim both properties as your main residence for 6 months if all of the following apply:

      • you lived in your old home as your main residence for a continuous period of at least 3 months in the 12 months before you disposed of it
      • you did not use your old home to produce income (such as rent) in any part of that 12 months when it was not your main residence
      • the new property becomes your main residence.

      When you are building off the plan, you are able to claim this property as your main residence from the date you sign the contract if you move in as soon as practicable once construction is complete.

      Liked by _DC49
      _DC49(Initiate)Initiate
      23 Aug 2021

      Good afternoon,

      If I want to claim only my old unit as my main residence, where can I report it in my tax return? And what else I need to do in my tax return for that?

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