A tax-advantaged entity is:
- a tax-exempt entity (for example, a church or charity) or
- the trustee of:
- a complying superannuation fund
- a complying approved deposit fund or
- a pooled superannuation trust.
Any such capital gain or capital loss can be disregarded if the gain results from a testamentary gift of property (that is not land or a building) to a public library, a museum or an art gallery in Australia. This also applies to a testamentary gift to the Australiana Fund (under the Cultural Bequests Program), as long as the Minister for Communications, Information Technology and the Arts certifies that the gift meets the specific requirements of the program.