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  1. Terry_w

    Primary residence status - how long do I have to live in it?

    If over 7 years it would be apportioned. If absent for more than 6 and it is not income producing then the main residence exemption could possibly be still maintained.
  2. Terry_w

    Primary residence status - how long do I have to live in it?

    Legislation doesn't define "main residence". So the term would take its ordinary meaning. In the old tax act the term used to be "principal place of residence" and there is ATO publication giving guidance on what this means. it might also be useful to look at legal some cases on the topic...
  3. Terry_w

    Primary residence status - how long do I have to live in it?

    What's your question? The legislation does not specify a minimum time period. Look up s118-145 ITAA97.
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