Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-3
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CAPITAL GAINS AND LOSSES: SPECIAL TOPICS
When you die, a *capital gain or *capital loss from a *CGT event that results for a *CGT asset you owned just before dying is disregarded.•
an exempt entity; or
•
the trustee of a complying superannuation entity; or
•
a foreign resident.
Division 128
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Effect of death
General rules
SECTION 128-10
128-10
Capital gain or loss when you die is disregarded
When you die, a *capital gain or *capital loss from a *CGT event that results for a *CGT asset you owned just before dying is disregarded.
Note 1:
Section 104-215 sets out an exception to this rule if the CGT asset passes to a beneficiary in your estate who is:
Note 2:
There is a special indexation rule for deceased estates: see section 114-10 .
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