The disposal of the 'main residence' (home) of a taxpayer is generally exempt from capital gains tax, if the owner has resided in the property throughout and has not elected for another property to be their main residence during this period. To receive the exemption, the property must have a dwelling on it and the taxpayer must have lived in it.
Indicators that a dwelling is the main residence of a taxpayer include:
- Ìý
•ÌýÌýÌýÌý the taxpayer and their family live in the property
- Ìý
•ÌýÌýÌýÌý the taxpayer's personal belongings are stored in the property
- Ìý
•ÌýÌýÌýÌý the taxpayer's mail is delivered to that address
- Ìý
•ÌýÌýÌýÌý the address is the one that the taxpayer
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Web page updated on 17 Mar 2025 13:11