• Deceased estates

    Prior to 1 July 2006

    From 1 July 2006

    From 1 July 2007

    From 1 July 2009

    No equivalent.

    The legal personal representative of the deceased or a beneficiary of the deceased’s estate can access the concessions to the same extent that the deceased could have used them just prior to death, on assets disposed of within two years of death.

    No change

    No change

    Capital gains made on assets acquired on the death of a joint tenant (or that devolve to the trustee of a trust that is established by the will of an individual), where the deceased would have been able to access the small business capital gains tax (CGT) concessions and the surviving joint tenant (or trustee) does not continue carrying on the business, are not eligible for the small business CGT concessions.

    Eligibility to the concessions can only pass to an individual’s legal personal representative or their beneficiary for two years from the individual’s death.

    Capital gains made on assets acquired on the death of a joint tenant (or that devolve to the trustee of a trust that is established by the will of an individual), where the deceased would have been able to access the small business CGT concessions and the surviving joint tenant (or trustee) does not continue carrying on the business, are eligible for the small business CGT concessions.

    In addition to an individual’s legal personal representative or beneficiary, eligibility to the concessions can pass to surviving joint tenants and to a trustee of a trust established on that individual’s death for a period of two years.

    No change

    No change

      Last modified: 21 Jun 2016QC 21145