I bought a house in 2018 in the ACT, lived in it until two years ago, at which point I rented it out and did so until I sold it a month ago.
The ATO has deemed I’m exempt from CGT claiming the main residence exemption.
What can I claim this financial year? Do I claim as normal for the period the house was rented?
i.e- land and water for the tenanted period?
thanks
Yes. Any expenses related to the earning of assessable income is tax deductible. Even though you were not living in the property, for CGT purposes you are still able to claim the main residence exemption, but this doesn't change rental income or expenses.
The ATO has deemed you exempt from CGT. CGT relates to the sale of your property and not to the rental of your property. You must still lodge rental income in your tax return for the time you received rental income.
You can claim expenses related to rental income, such as the council rates & insurance paid during the tenanted rental period. If there are these costs that span across both the private & rental period, you should apportion the costs. For example, you pay $600 for six-months of rates on 1/1/20 and your rent the house on 1/2/20. $100 of the rates are non-deductible and the other $500 of rates are deductible.
You can claim any other expenses incurred during the rental period, such as repairs for damage caused by the tenant.
You can also claim depreciation for brand new depreciating assets purchased during the rental period. You cannot claim depreciation for assets you bought & used prior to the rental period.
For specific information, refer to this PDF: https://iorder.com.au/publication/Download.aspx?ProdID=1729-6.2023
Yes. Any expenses related to the earning of assessable income is tax deductible. Even though you were not living in the property, for CGT purposes you are still able to claim the main residence exemption, but this doesn't change rental income or expenses.
15 Apr 2026 · 4 min read time
15 Apr 2026 · 8 min read time
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