Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Act 2019 (129 of 2019)

Schedule 1   Capital gains tax changes for foreign residents

Part 1   Main residence exemption

Income Tax Assessment Act 1997

10   Subsection 118-185(2) (example)

Omit "You bought a house in July 1990 and moved in immediately. In July 1993, you moved out and began to rent it. You sold it in July 2000, making (apart from this Subdivision) a capital gain of $10,000.", substitute "You bought a house in July 2020 and moved in immediately. In July 2023, you moved out and began to rent it. You sold it in July 2030, making (apart from this Subdivision) a capital gain of $10,000. At the time you sold the house, you were an Australian resident.".