I would have thought that the committee member ceases to be an owner on the date when the contract for sale is signed by both parties which is usually on or about the date of exchange.
This from the ATO may be relevant: Timing of a real estate CGT event
When you sell or otherwise dispose of real estate, the time of the event (when you make a capital gain or loss) is usually:
- when you enter into the contract (generally the date on the contract), not when you settle – the fact that a contract is subject to a condition, such as finance approval, generally doesn’t affect this date “