Practical Compliance Guideline PCG 2019/5 has recently been updated by the ATO to explicitly include the effects of COVID-19. The guideline outlines how the CGT main residence exemption may apply in cases where a dwelling is disposed, either in the capacity of an individual beneficiary or a trustee of a deceased estate. It now includes specific examples to illustrate the complexity in claiming the safe harbour within the background of COVID-19 restrictions and economic effects.
Click to read our article: Deceased estates and CGT: disposal of dwelling (0.80 MB PDF)