Temporary absence rule (six-year rule)

Hi all

Below is my scenario regarding possible capital gains tax exemptions, which I would be grateful for your comments. I'm hoping they will be handy when I speak with my tax accountant. I'm also hoping it tests your knowledge.

I believe my main issue concerns how long I should live in my 'main residence', which I understand there is no set time frame. Secondly, what my 'intentions' may be, which can be blurry when you don't know yourself.

Nearly five years ago I moved out of my main residence, and it has been earning an income since (and I have been working/renting/traveling elsewhere since). My long-term tenant just gave notice to vacate, just as I'm preparing for an overseas trip that will hopefully lead to an overseas job for me.

I want to keep the option of moving back into my property open at any time, circumstances prevailing. I was willing to accept that the temporary absence rule would eventually expire. Now I have the opportunity to move back in, and reset the temporary absence rule for another six years (see TD 95/9).

I think I understand the relevant factors to determine if your dwelling is your main residence, and I understand there is no minimum time. I have no other dwelling that I own, or I would wish to nominate as my main residence for tax purposes. My current situation means that I would only be moving all my belongings in for only a few days before I have my flight out of Australia. I'll be gone for  4 months minimum, so I want to rent it out while I'm gone.

Also, I won't be there long enough to even get on the electoral roll.  There is a minimum period for this, which means my vote at this years federal election will be for another seat (via overseas postal vote). I don't think this means that I don't qualify for the main residence rule, because I meet it in other ways.

On the face of it,  is moving in worth the trouble?

Cheers