Question 2

Explain the main residence exemption. In your answer comment on the following:

1. What are the factors that are relevant in determining main residence status
2. What can happen if you are absent from your property
3. What will happen if you own two properties for a period of 4 months (ie. You have moved house and your old house is on the market and not being used for income producing activities)

this question is about tax in Australia