Home sweet home (capital gain tax) (Issue number 1)

Your home is exempt from capital gain tax (CGT) if it is your main residence.

To be qualified for this exemption, you must be a natural person and your main residence has to be a dwelling.

Example of dwelling include but not limited to:

1. a home or cottage
2. an apartment or flat
3. a strata title unit
4. a unit in a retirement village
5. a caravan, houseboat or other mobile home.

After satisfying the dwelling condition, the following factors will then have to be considered in working out if a dwelling is a main residence:

1. The length of time you live there – there is no minimum time a person has to live in a home before it is considered to be their main residence
2. whether you and your family lives there
3. whether you have moved your personal belongings into the home
4. the address to which your mail is delivered
5. your address on the electoral roll
6. the connection of services (for example, phone, gas or electricity)
7. your intention in occupying the dwelling.

​Source: Is the dwelling your main residence?