In this scenario, the taxpayer’s spouse purchased a dwelling, Dwelling A. The taxpayer moved into Dwelling A with the spouse. After a few years, the couple moved out to travel around Australia and rented out Dwelling A to a tenant for less than six years.
On return from travelling, the taxpayer purchased land and built another house. The spouse transferred 50% ownership interest in Dwelling A to the taxpayer. The taxpayer and the spouse subsequently sold Dwelling A.
According to the ruling, there is nothing to prevent either spouse from nominating the other’s dwelling as their main residence even though they did not have an ownership interest in that dwelling.
Situations of where tax practitioners can provide opportunity for client to go through tax affairs in organising legally and financially in order to minimise tax liabilities
…It would be an optimal for any potential clients to seek for professional tax planning advice ahead of time to minimise the nuisances of going through all this at a later stage…http://taxideas.com.au/booking/
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