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Edited version of your written advice
Authorisation Number: 1051284202254
Date of advice: 19 September 2017
Ruling
Subject: Capital gains tax – main residence exemption
Question
Are you entitled to apply the main residence exemption on the disposal of your property?
Answer
Yes
Having considered your circumstances and the relevant factors, you can fully disregard any capital gains tax under section 118-110 of the Income Tax Assessment Act 1997. Further information on ‘treating a dwelling as your main residence after you move out’ can be found on our website ato.gov.au and entering Quick Code (QC) 52189 into the search bar at the top right of the page.
This ruling applies for the following period:
30 June 2017
The scheme commences on:
1 July 2016
Relevant facts and circumstances
You purchased property in 20XX as your main residence and moved in as soon as practicable with relatives.
You continued to live at this property until 20XX, when you than began working which required you to live in different locations around Australia.
The accommodation that you lived in whilst employed, was owned by your employer.
Your relatives remained at the property, and were responsible for the financial obligations. You did not use your property to produce assessable income nor did you treat any other dwelling as your main residence.
You sold the property in April 20XX.
Relevant legislative provisions
Income Tax Assessment Act 1997 section 104-10
Income Tax Assessment Act 1997 section 118-10
The rulings in the register have been edited and may not contain all the factual details relevant to each decision. Do not use the register to predict ATO policy or decisions.
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