Very few exemptions have been provided within Part IIIA of the Australian Tax Assessment Act, but the most significant one must be the sole or principal residence examption provided in Section 160ZZQ. Substantial amendments to Section 160ZZQ were announced in the 1989 August Budget relating to temporary absence, erection of dwellings and deceased estates resulting in increased importance being placed on this exameption for tax planning purposes.
"The Principal Place of Residence : Taxation Considerations,"
Revenue Law Journal: Vol. 1
, Article 4.
Available at: https://epublications.bond.edu.au/rlj/vol1/iss2/4