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Fanboy007(Newbie)Newbie
12 June 2024

A second question if I’m allowed….

The reason for my first 6 year property was a transfer to regional WA by my employer, do I need a specific reason to commence a second 6 year period? Thanks again.

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Taxduck(Taxicorn)Taxicorn
12 June 2024

Eligibility: Was your main residence first then it stopped being your main residence.

https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/property-and-capital-gains-tax/your-main-residence-home/treating-former-home-as-main-residence#ato-Eligibility

A reason why you move out is not specifically necessary when applying the 6 year rule. What is relevant is that you have moved back in with the intent to occupy the dwelling as your home. See what is a main residence.

https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/property-and-capital-gains-tax/your-main-residence-home/eligibility-for-main-residence-exemption#ato-Whatisamainresidence

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Most helpful reply

Taxduck(Taxicorn)Taxicorn
12 June 2024

Eligibility: Was your main residence first then it stopped being your main residence.

https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/property-and-capital-gains-tax/your-main-residence-home/treating-former-home-as-main-residence#ato-Eligibility

A reason why you move out is not specifically necessary when applying the 6 year rule. What is relevant is that you have moved back in with the intent to occupy the dwelling as your home. See what is a main residence.

https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/property-and-capital-gains-tax/your-main-residence-home/eligibility-for-main-residence-exemption#ato-Whatisamainresidence

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