Income Tax Assessment Act 1997



Division 118 - Exemptions  

Subdivision 118-B - Main residence  

Rules that may extend the exemption

SECTION 118-155   Where individual referred to in section 118-150 dies  

This section applies if the individual referred to in subsection 118-150(1) dies:

(a) after the work began, or the individual entered into a contract for it to be done, but before it was finished; or

(b) after the work was finished but before it was practicable for the *dwelling to become the individual's main residence; or

(c) during the period of 3 months referred to in paragraph 118-150(3)(b) .

If the individual owned the interest in the land as a joint tenant, the surviving joint tenant or, if none, the trustee of the individual's estate, can choose to apply this Subdivision as if the *dwelling were the main residence of the individual:

(a) when the individual died; and

(b) for the shorter of:

(i) 4 years before the individual's death; or

(ii) the period starting when the individual *acquired the interest in the land and ending when the individual died.

If there was already a *dwelling on the land when the individual *acquired the interest in the land and someone occupied it after that time, the period in subparagraph (2)(b)(ii) starts when the dwelling ceased to be occupied so that it could be repaired or renovated.

If the *dwelling is treated as the deceased's main residence under this section, no other dwelling can be treated as the deceased's main residence at the same time.


However, this section does not apply if, just before the individual ' s death, the individual was an *excluded foreign resident.


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