Your car or motorcycle is exempt from CGT.Ī car is defined as a motor vehicle that carries a load of less than 1 tonne and fewer than 9 passengers. you are a foreign resident and you do not satisfy the requirements of the life events test at the time the 'CGT event' happens.įor a summary fact sheet with common scenarios about CGT and eligibility for the main residence exemption that you can download as a PDF, see Capital gains tax and the main residence exemption.ĬGT does not apply when an eligible granny flat arrangement is created, varied or terminated.Your main residence (your home) is exempt from CGT. Your main residence is generally exempt from CGT.
If you acquired property before 20 September 1985, any property improvements or additions you make after that date may be subject to CGT. Specific exemptions such as awards and payoutsĪssets you acquired before 20 September 1985 are exempt from CGT.Assets acquired before 20 September 1985.Check if your assets are subject to CGT, exempt, or pre-date CGT.
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