Example:

John and Jane own a dwelling which is their main residence. They decide to purchase an investment property in which they will grant a liferent interest to John's father, Waylon, who currently lives in rented accommodation.

At the end of the day that is the effective date of the transaction, John and Jane are regarded as owning one dwelling (their main residence) and Waylon is regarded being the 100% owner of one dwelling by virtue of his liferent interest in the purchased dwelling ("deemed ownership"). Therefore, the ADS will not apply.

Last updated: 
6 April 2016
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