2024

Local Tax Club Adelaide - Part 2: Main Residence Exemption – What could go wrong?

Source: South Australia

Published Date: 21 May 2024

 

This session covers the intricacies of the main residence exemption, a pivotal aspect of income tax legislation that can significantly impact a person's most valuable asset—their main residence.

We explored the nuances of this generous exemption including its burdensome qualification criteria and how particular actions or inactions can result in the loss of the exemption in whole or in part.

Our presenters covered the following key topics:

  • Unlocking income potential from a main residence
  • Strategies for preserving the exemption during demolition or subdivision
  • Navigating succession and deceased estate issues, and
  • Understanding the impact of absences, particularly for foreign residents.

Main Residence Exemption – What could go wrong?

Author(s): Roy Abbas , Robyn Jacobson CTA , Rhett Fraser

May Tax Update

Author(s): Lee Jurga
Materials from this session:

Details

  • Published On:21 May 2024
  • Took place at:Majestic Roof Garden Hotel

The material is copyright. Apart any fair dealing for the purpose of private study,

research critisism or review, as permitted under the copyright Act, no part may be rerpoduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

This material is copyright. Apart from any fair dealing for the purpose of private study., research, critisism or review, as permitted under teh copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opininons are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

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2024

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