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
- 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.
If an exemption is allowed, it applies for the current and future assessment years as long as you continue to use the land as your primary place of residence. You must notify the Commissioner if you no longer use the land for your residence, or if there are other changes in its use.