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Edited version of your written advice
Authorisation Number: 1051477847310
Date of advice: 22 March 2019
Subject: Main Residence Exemption
Ruling
Question
Am I entitled to a principal residence exemption for a CGT event if I work overseas?
Answer
Yes
As you and your spouse have elected the property in Australia as your main residence you are eligible to claim the Main residence exemption.
This ruling applies for the following periods:
Year ended 30 June 2014
Year ended 30 June 2015
Year ended 30 June 2016
Year ended 30 June 2017
Year ended 30 June 2018
The scheme commences on:
1 July 2013
Relevant facts and circumstances
You were born in Country X.
You are in Australia on DF / 890 Visa that expires 1/9/20XX
You purchased a property in xxx 20XX at X
The size of the land is 700 square metres.
Your spouse and children live in the property and consider it their main residence.
You travel overseas to work.
When you are in Australia you live in the property with your family,
You and your spouse consider the property your main residence.
You owned your own home in Country X which is currently leased out.
You have been offshore 103 days in 2019, 324 days in 2018, 279 days in 2017, 298 days in 2016 260 days in 2015, 280 days in 2014 and 298 days in 2013.
Your property in Australia has not been used to generate income.
You want to sell the property.
Relevant legislative provisions
Section 118-170 of the Income tax Assessment Act 1997 (ITAA 1997)