The CGT main residence exemption is a significant but deceptively complex concession, with many ways it can be gained, or inadvertently lost due to demolition, death, or absence.
This session will consider:
- The significance of “adjacent land” for primary producers
- Keeping the exemption when demolishing or subdividing the family home
- When one dwelling can be two CGT assets
- Planning for sea and tree changers with 2 dwellings
- Impacts of death and inheritance
- Absences, especially for foreign residents; and
- Implications of the increasing use of main residences to derive income through modern work practices and “side hustles”.