LE
The 6 year exemption was simply to allow anyone who owns a home to move out for a period of time and maintain the main residence status. The view was to not disadvatage a person teporarily moving for work purposes
If you contract a builder to build your new home YOU MUST live there for 3 months for the property to be exempt
If it is an established property you must have either lived in the property or be able to prove a strong case the intention was to live in the property at the time of purchase
the type of things that are looked at to comfirm main residence status are:
Was the property lived in and for how long
address for mail purposes
the name the services and utilities were in
electoral roll details
what was the intention at time of purchase
http://law.ato.gov.au/atolaw/view.htm?rank=find&criteria=AND~td~basic~exact:::AND~51~basic~exact&sis=main~residence&target=FA&style=java&sdocid=CGD/TD51/NAT/ATO/00001&recStart=1&PiT=99991231235958&recnum=1&tot=5&pn=ALL:::F#timeline
thoughts..., page-18
-
- There are more pages in this discussion • 6 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)