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M.Biles(Newbie)Newbie
18 Nov 2022

Hi


Just looking at the exemption from the CGT for the PPR. It states "You may be eligible for main residence exemption if you meet the eligibility conditions:


-         Has been the home of you, your partner and other dependants for the whole period you have owned it."


My Questions:

1- Would a house that I lived in for couple of months, then knocked it down to rebuild a new house, ie I'd to move to a rental during the build period, be considered as my main residence for the exemption from the CGT listed above?

2- If I didnt move back to the house after the completion of the build as I found a better new employment in another state and decided to sell it while I was in this other state (I started renting in this other state, ie not owning another main residence), does the definition of the main residence listed above apply and I'd be exempt from paying CGT?

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JodieR_ATO(Community Support)Community Support
21 Nov 2022

Hi @M.Biles,


The website advises - you can treat the land as your main residence for up to 4 years before you move in if you:

  • have an ownership interest (other than a life interest) in the land
  • build, repair or renovate a dwelling on the land, or finish a partly constructed dwelling
  • move into the dwelling as soon as practicable after it is finished and continue to use it as your main residence for at least 3 months.

The same option is available if you build a new dwelling to replace a dwelling that was demolished or destroyed. You can treat the vacant land as your main residence for up to 4 years while building your new home.


However, if your intention changes and you don't move into the property for at least 3mnths, you cannot claim the main residence exemption when you sell or dispose of it.

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Most helpful reply

JodieR_ATO(Community Support)Community Support
21 Nov 2022

Hi @M.Biles,


The website advises - you can treat the land as your main residence for up to 4 years before you move in if you:

  • have an ownership interest (other than a life interest) in the land
  • build, repair or renovate a dwelling on the land, or finish a partly constructed dwelling
  • move into the dwelling as soon as practicable after it is finished and continue to use it as your main residence for at least 3 months.

The same option is available if you build a new dwelling to replace a dwelling that was demolished or destroyed. You can treat the vacant land as your main residence for up to 4 years while building your new home.


However, if your intention changes and you don't move into the property for at least 3mnths, you cannot claim the main residence exemption when you sell or dispose of it.

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Primary place of residence during a knckdown to rebuild | ATO Community