Practical Issues with the Main Residence Exemption

About this event

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 webinar 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

Attendees can expect to complete the webinar 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.

Meet your presenter

Mark Chapman

With over 30 years of experience as a tax professional in both the UK and Australia, Mark Chapman has established himself as a leading expert in taxation for individuals and small to medium-sized enterprises (SMEs). Currently serving as the Director of Tax Communications at H&R Block Australia, Mark has been with the company since 2015, where he plays a pivotal role in shaping and delivering tax advice across various media channels.

Mark’s expertise is frequently sought by national media outlets. He is a regular columnist for Money Magazine and Yahoo7 Finance, and contributes tax insights to The Australian Financial Review, The Daily Telegraph, The Age, and Business Spectator. His media presence extends to radio and television, where he provides expert commentary on current tax issues. His deep knowledge also sees him regularly presenting at seminars and conferences on a range of topical tax matters.