Main residence

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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.