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  • Moving in

    A dwelling is considered to be your main residence from the time you acquire your ownership interest in it if you move in as soon as practicable after that time. If you purchase the dwelling, this would generally be the date of settlement of the purchase contract.

    If there's a delay in moving in because of illness or other unforeseen circumstances, the exemption still applies as long as you move into the dwelling as soon as the cause of the delay is removed – for example, when you recover from the illness.

    If you can't move in because the dwelling is being rented to someone, you are not considered to have moved in as soon as practicable after you acquired your ownership interest.

    A special rule allows you to treat more than one dwelling as your main residence for a limited time if you are changing main residences.

    Example: Moving in as soon as practicable

    Li Jing signed a contract to buy a townhouse in March. She took possession when settlement occurred in April.

    During this period, Li Jing was directed by her employer to go overseas on an assignment for four months, leaving late in March. She moved into the townhouse on her return to Australia in late July.

    Li Jing's overseas assignment was unforeseen at the time she bought the property. As she moved in as soon as practicable after settlement of the contract occurred, she can treat the townhouse as her main residence from the date of acquisition until she moved in.

    If Li Jing treats the townhouse as her main residence for this period, she can't treat any other dwelling as her main residence (except for a limited time if she is moving house).

    End of example

    See also:

    Last modified: 29 Jun 2018QC 52187