Tax Laws Amendment (2011 Measures No. 2) Act 2011 (41 of 2011)

Schedule 5  

Part 18   Inclusion of Commissioner's discretion to extend main residence exemption from CGT

Income Tax Assessment Act 1997

89   Paragraph 118-150(4)(a)

Repeal the paragraph, substitute:

(a) 4 years, or a longer time allowed by the Commissioner, before the *dwelling becomes your main residence; and