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Special rules

Last updated 3 March 2016

There are some special CGT rules that are not covered in this chapter that may affect you if your home was:

  • destroyed and you receive money or another asset as compensation or under an insurance policy (see chapter 7)
  • transferred by you as a result of the breakdown of your marriage (see chapter 8)
  • transferred to you as a result of its conversion to strata title, or
  • compulsorily acquired by an Australian government agency (see chapter 7).

If you own more than one dwelling during a particular period, only one of them can be your main residence at any one time.

The exception to this rule is if you move from one main residence to another. In this case you can treat two dwellings as your main residence for a limited time. Special rules apply if you have a different main residence from your spouse or dependent children.