Main Residence Exemption Rule when you have left the country
If an Australian resident moves overseas and becomes a non-residence for taxation purposes, they can still access the Principal Place of Residence (PPR) exemption for Capital Gains Tax (CGT) indefinitely if they don't rent out their PPR in Australia.
Provided you have moved into the property as your main residence prior to moving overseas, you can apply the absence rule under section 118-145 ITAA 1977 to be treat the home as your main residence for Australian CGT Exemption purposes. This exemption can continue indefinitely if the home is not being rented out.
If you now as a non resident purchases another dwelling while overseas or in Australia, you can continue to apply the absence rule to the orginal home, provided you don't intent to treat the new dwelling as your main residence (PPR) for CGT purposes.
The decision on which dwelling to be treated as your PPR need not be made in real time, but with the knowledge of time, you can decide which to be your PPR to minimise any CGT, your decision is reflected at the time of selling the first of the dwelling and how you treat it for CGT in that years tax return.
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