On 12 December 2019, the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019 received Royal Assent as Act No 129 of 2019. As a result, clumsily and controversial measures, to deny foreign residents access to the CGT main residence exemption, are now law.

See below for a summary of this new Act and some comments about the ‘main residence’ changes.

[Tax Month – December 2019]

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