• Non-resident beneficiary

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    If a non-resident is a beneficiary of a deceased's post-CGT asset, any capital gain or capital loss is not disregarded if:

    • the deceased was an Australian resident when they died, and
    • the asset does not have the necessary connection with Australia.

    Examples of assets that do not have the necessary connection with Australia include:

    • real estate located overseas
    • shares in a non-resident company, and
    • shares in an Australian public company if the total number of shares owned is less than 10% of the value of shares in the company.
    Last modified: 04 Mar 2016QC 27527