Dwelling House exemption

Dwelling House Exemption

If you receive a gift of a house on or after 25 December 2016, you will be exempt from gift tax if:

1. You are a dependent relative of the person making the gift because you are:
2. permanently and totally incapacitated due to a physical or intellectual disability, and you are unable to earn a living or are
3. 65 years or older at the date of the gift.
4. The house was your main home for the previous three years.
5. You do not own, have an interest or a share in any other house.
6. The house is your main home for six years after you receive it. This does not apply if you are over 65.

Subject to qualifying conditions and criteria