Nonresident became resident and CGT on main residence

Question

 · Accepted Answer

JodieR_ATO · Answer

If they purchased the property and lived in it straight away, then became residents, they can still apply main residence exemption (https://www.ato.gov.au/individuals/capital-gains-tax/property-and-capital-gains-tax/your-main-residence-(home)/). This would be the same if they lived OS in their own property then moved to Australia, they could continue main residence rule for up to 6yr if it was rented or indefinitely if it was left vacant. So long as they didn't own any other property.

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