Ownership of the land is determined as at midnight on 30 June in the financial year immediately before the assessment year.
To be eligible for a residential exemption, the land must be
- owned by a person who uses it as their primary residence or
- owned by a husband and wife or de facto partners, with at least one owner using the land as their primary residence.
The land must
- be your primary residence
- comprise one lot or parcel (see Commissioners Practice LT 1 ‘Private Residential Property, Two or More Lots of Land used as a Single Property’ if the land is a parcel) and
- include a building that is being occupied as the owner’s primary residence or
- include a building undergoing construction or refurbishment at 30 June and is now occupied as the owner’s primary residence.
Your exemption will continue while you use the property as your primary (or principal) place of residence (PPR). You must notify us as soon as your use of the property changes (such as if you rent out the property or live elsewhere).
