I have purchased an off the plan apartment in February 2022 for occupation and own no other properties . If I was to sell it in say March 2023 and it’s still not completed am I liable for capital gains tax .? I signed rhe contract in Feb 2022 and it’s an unconditional sale .
Hi @Coldwell88,
To be eligible for the capital gains tax, (CGT) main residence exemption, you'll need to establish main residence which means you'd need to move into it and live there. You can look at the criteria for main residence from our webpage.
We've another rule where you can move in as soon as practical after the home is built or renovated. This one is for when your home takes up to 4 years to build.
The scenario you've provided doesn't fall into these categories.
Check out the information on our web site that talks about CGT and your main residence.
Hi @Coldwell88,
To be eligible for the capital gains tax, (CGT) main residence exemption, you'll need to establish main residence which means you'd need to move into it and live there. You can look at the criteria for main residence from our webpage.
We've another rule where you can move in as soon as practical after the home is built or renovated. This one is for when your home takes up to 4 years to build.
The scenario you've provided doesn't fall into these categories.
Check out the information on our web site that talks about CGT and your main residence.
Will the result change for the off-plan property if purchase contract date is August 2022, settlement date upon purchase is June 2023, I want to sell it in September 2023. do I entitle to 50% CGT discount? if base on contract date, I own the property for 12 months, if base on settlement date, I haven't move into the house yet before I sold it.
Hi @NathanNg,
We go by date of contract rather than date of settlement. The exception to the rule is when there isn't a contract of sale, then it's the time of sale.
If you're an Australian resident for tax purposes and you've owned the asset for at least 12 months, you'll be eligible for the 50% CGT discount.
Have a look at the information on our website if you haven't where it talks about the CGT discount.
15 Apr 2026 · 4 min read time
15 Apr 2026 · 8 min read time
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