Main residence



This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

End of attention

Generally, you can ignore a capital gain or capital loss from a CGT event that happens to your ownership interest in a dwelling that is your main residence (also referred to as 'your home').

To get full exemption from CGT:

  • the dwelling must have been your home for the whole period you owned it
  • the dwelling must not have been used to produce assessable income, and
  • any land on which the dwelling is situated must be 2 hectares or less.

If you are not fully exempt, you may be partially exempt if:

  • the dwelling was your main residence during only part of the period you owned it
  • you used the dwelling to produce assessable income, or
  • the land on which the dwelling is situated is more than 2 hectares.

Short absences from your home - for example, annual holidays, do not affect your exemption.

Last modified: 04 Mar 2016QC 27527