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

24   At the end of section 118-218

Add:

(5) Despite subsection (1), this section does not apply if, at the time the *CGT event happens, the *principal beneficiary of the trust:

(a) is an *excluded foreign resident; or

(b) is a foreign resident who does not satisfy the *life events test.