Non-resident beneficiary

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.