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This edited version has been archived due to the length of time since original publication. It should not be regarded as indicative of the ATO's current views. The law may have changed since original publication, and views in the edited version may also be affected by subsequent precedents and new approaches to the application of the law.

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Edited version of your written advice

Authorisation Number: 1051428791058

Date of advice: 25 September 2018

Ruling

Subject: Capital gains tax (CGT) and the main residence exemption

Question 1

Are you entitled to a partial main residence exemption for your second property?

Answer

Yes. Having considered the relevant factors, the Commissioner considers that you are entitled to the partial main residence exemption. Further information about this exemption can be found by searching ‘QC 52195’ on ato.gov.au

This ruling applies for the following period

Year ended 30 June 20XX

The scheme commences on

1 July 20XX

Relevant facts and circumstances

They purchased the first property after 20 September 1985 and it was then rented.

They purchased their second property and began using it for rental purposes.

They moved into their second Property and began treating it as their main residence.

They later moved into the first property and were absent from the second property.

The second property was sold.

Relevant legislative provisions

Income Tax Assessment Act 1997 section 118-110

Income Tax Assessment Act 1997 section 118-145

Income Tax Assessment Act 1997 section 118-185

Income Tax Assessment Act 1997 section 118-190


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