home first used to produce income rule


A simple explanation of the often overlooked 'home first used to produce income rule'.

The "home first used to produce income rule", as the name implies, relates to properties which have been used as a principal place of residence, prior to being rented. Provided the property fits the ambit of this rule, the cost base of the property for the purposes of capital gains tax, is considered to be the value of that property at the time it is first rented, or first used to produce income.

For more information visit the Australian Tax Office's guide the home first used to produce income rule