Capital gain in respect of family home The residents of Australia can claim tax exemption on capital gain earned from the sale of the family home if only they have the ownership of that property (Yardney, 2019). Jasmine acquired and has been residing in this residential property since 1981, and as per the law, any property that is bought before 1985 will not fall under the ambit of CGT. Hence, all these details suggest that Jasmine is eligible to claim full CGT exemption on the capital gain earned from