Practical Issues with the Main Residence Exemption
Overview
A practical, example rich session that uncovers the hidden traps in the CGT Main Residence Exemption – and shows you exactly when it works and when it doesn’t
There’s no CGT when you sell your family home, right? Well, not necessarily. Whilst the family home is one of the great tax-free investments most of will ever make, the reality is that the main residence exemption from CGT is loaded with exclusions and caveats which can land an unsuspecting client with a nasty tax problem.
This session will offer a practical, example-driven overview of how the CGT main residence exemption works – and when it doesn’t work.
Amongst the topics to be covered:
- What is the main residence?
- The taxpayer owns more than one ‘main residence’
- The absence rule
- Main Residence where the property is partly used for income earning purposes
- Market value – the first use to produce income rule
- Subdivision
- Main Residence in relation to farmhouses on farms
- Main residence when the parties separate
- Construction of dwelling on pre-CGT land
- Death and the main residence
- Foreign residents and the main residence exemption
Learning Outcomes:
Attendees can expect to complete the session with a detailed understanding of the main residence exemption so as to produce the best tax outcome whilst minimising the risk of ATO review or audit.
Suited to:
This session is suited to all accountants and tax practitioners with individuals amongst the client base.
This On Demand recording Includes:
- Recording of the Live Webinar, which can be viewed multiple times, for as long as required
- Presenters contact details for follow up questions
- CPD Quiz
- CPD Certificate
- CPD Report – Logged automatically
- PowerPoint Presentation
- Verbatim Transcript, with Searchability
- Supporting Documentation
Course syllabus
3 lessons
- Video – Practical Issues with the Main Residence ExemptionVideo
- Feedback Survey QuestionsSurvey
- Knowledge QuizTest
Your presenter
Mark ChapmanH&R Block
is the author of Life and Taxes: A Look At Life Through Tax and has edited and updated the second, through to the eighth, editions of Australian Practical Tax Examples, published between 2019 and 2025 by Wolters Kluwer CCH Australia.
He has over 30 years experience as a tax professional in both the UK and Australia, specialising in tax for small business and individuals. He is a fellow of the Institute of Chartered Accountants in England and Wales, a fellow of CPA Australia and a member of the Chartered Institute of Taxation. He holds a Masters of Taxation Law with the University of New South Wales.
Since 2015, Mark has been Director of Tax Communications with H&R Block Australia. He writes regularly on tax issues for numerous media outlets and presents on topical tax topics at seminars and other events. He broadcasts frequently on radio and television and writes a regular column for Money Magazine and Yahoo7 Finance. As a tax practitioner in the UK, he occupied a number of senior positions before moving to Australia in 2007 to join the Australian Taxation Office (ATO) as a senior director.