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  • Your home and other real estate

    Most real estate is subject to capital gains tax (CGT). This includes vacant land, business premises, rental properties, holiday houses and hobby farms.

    Your main residence (your home) is generally exempt from CGT unless you've used it to earn rent or run a business, or it's on more than two hectares of land.

    It's important to:

    • keep records of your real estate, including your own home (in case in the future you start renting it out or running a home business)
    • remember that when you sell real estate, the time of the event (the time at which you make a capital gain or loss) is when you enter into the contract, not when you settle.

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    Last modified: 17 Jul 2017QC 22166