From www.moneymag.com.au: When selling the family home, most homeowners are exempt from paying CGT on the profit from the sale, provided the property qualifies as their main residence throughout the ownership period.

The main residence exemption does not apply if the property was used to generate income during ownership, and property can only be designated as the main residence if it is occupied as such.

Homeowners can also benefit from a “six-year absence” rule, allowing them to rent out their main residence while still claiming the full exemption, provided they have lived in the property before renting it.