INCOME TAX ASSESSMENT ACT 1997
You can ignore a capital gain or capital loss you make from a CGT event that happens to a dwelling that is your main residence.
However, this exemption may not apply in full if:
There are special rules for dwellings passed from, or owned by a trustee of, a deceased estate.
There is a similar exemption for a CGT event that is a compulsory acquisition (or similar arrangement) happening to adjacent land but not also to the dwelling itself.