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Wendy26(Newbie)Newbie
18 Sept 2023

I wish to know if I am exempt from CGT on my main residence under the following 2 conditions:

  1. Due to strict "tenancy agreements" and protections, I was unable to move into my new place upon settlement and had to allow the current rental lease to expire. I did not renew this lease (and did not ever wish to have a tenancy agreement in the first place). Settlement Dec 2022. Lease ended Mar 2023. Moved in immediately on cessation of lease Mar 2023. Wish to sell now - under 12mths. I did receive rental income for this short period of time. How do I apply for a special exemption given these were rules inflicted post pandemic to protect "tenants" not new buyers or owners?
  2. PPoR for less than 12mths.

Thanks.

221 views
4 replies
221 views
4 replies

Most helpful response

Most helpful reply

EdenATO(Community Support)Community Support
20 Sept 2023

Hello there @Wendy26,


Bruce is right. You can't claim a full exemption from CGT on the sale of the property because it was rented before you moved in.


You can find the eligibility rule for the main residence exemption on our website.


You might be entitled to a partial exemption from March 2023. If you are wanting to look into a special exemption, you would be applying for a private ruling.

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Bruce4Tax(Taxicorn)Taxicorn
19 Sept 2023

How do I apply for a special exemption given these were rules inflicted post pandemic to protect "tenants" not new buyers or owners?


There is no exemption that I have ever heard of.


PPoR for less than 12mths.


CGT main residence exemption from March 2023 only.


Most helpful reply

EdenATO(Community Support)Community Support
20 Sept 2023

Hello there @Wendy26,


Bruce is right. You can't claim a full exemption from CGT on the sale of the property because it was rented before you moved in.


You can find the eligibility rule for the main residence exemption on our website.


You might be entitled to a partial exemption from March 2023. If you are wanting to look into a special exemption, you would be applying for a private ruling.

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