Main Residence Exemption

The session will cover:

• The basic concepts and scope of the main residence exemption, including legislation, cases and ATO publications in this area
• The rules extending the main residence exemption, including changing main residences
• The rules limiting the main residence exemption, such as adjacent land and co-tenants
• The partial exemption rules for part ownership periods and income producing properties
• Dwellings acquired from deceased estates
• Examples and case studies showing the application of the rules
• Matters to keep in mind when seeking to rely on the main residence exemption.

This session will enable participants to:

• Recognise when to apply the main residence exemption rules
• Identify any issues relating to the application of the exemption
• Explain the application of the exemption to clients and their particular circumstances
• Inform clients of any tax planning opportunities in this area.

A comprehensive set of course notes and accompanying PowerPoint slides will be provided