Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Act 2019 (129 of 2019)

Schedule 1   Capital gains tax changes for foreign residents

Part 1   Main residence exemption

Income Tax Assessment Act 1997

13   After subsection 118-195(1)


(1A) For the purposes of a provision of this Subdivision that applies the table in subsection (1):

(a) disregard paragraphs (a) and (b) in column 3 of item 2 of the table if, just before the deceased's death, the deceased was an *excluded foreign resident; and

(b) disregard paragraph (c) in column 3 of item 2 of the table if, at the time the relevant *CGT event happened, the individual was an excluded foreign resident.

Note: The other provisions that apply the table include paragraph 118-192(3)(b), subsection 118-200(2), paragraph 118-225(3)(c) and section 118-260.