Adjacent land and the 2 hectare rule

Do you know the main residence exemption for your dwelling can apply to an area that is adjacent to your dwelling?

It only extends to up to a maximum of 2 hectares ( or 4.94 acres) if the adjacent land is used mainly for private and domestic purposes in association with the dwelling over the period of ownership. There are planning opportunities when you own more than 2 hectares to maximise the main residence exemption on the sale of your home.

Want more tax tips? Follow us @batescosgraveCA
ChineseLanguage Select

Sign up to our monthly client bulletin.