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This edited version has been archived due to the length of time since original publication.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.

You cannot rely on this record in your tax affairs. It is not binding and provides you with no protection (including from any underpaid tax, penalty or interest). In addition, this record is not an authority for the purposes of establishing a reasonably arguable position for you to apply to your own circumstances. For more information on the status of edited versions of private advice and reasons we publish them, see PS LA 2008/4.

Edited version of private advice

Authorisation Number: 1051530904483

Date of advice: 15 June 2019

Ruling

Subject: Capital gains tax: main residence exemption: overseas property

Question

Are you entitled to a main residence exemption, in accordance with section 118-145 of the Income Tax Assessment Act 1997 (ITAA 1997), on the sale of your property?

Answer

Yes, the Commissioner considers that the property continued to be your main residence prior to its sale.

This ruling applies for the following period:

Year ended 30 June 20xx

The scheme commences on:

1 July 20xx

Relevant facts and circumstances

You owned a property in Country X (the property).

The property was your main residence.

You temporarily relocated to Australia in 20xx.

Whilst in Australia, you rented out the property.

You obtained rental accommodation in Australia.

You continued to treat the property as your main residence.

The property was rented for a period of less than six years.

You permanently relocated to Australia and sold the property.

Relevant legislative provisions

Income Tax Assessment Act 1997 section 118-145