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Edited version of private advice
Authorisation Number: 1051517326601
Date of advice: 28 May 2019
Ruling
Subject: Capital gains tax - Capital gain - Deceased estate.
Question
Was there a capital gain from the sale of the real estate property?
Answer
No
This ruling applies for the following period
Year ending 30 June 2019
The scheme commences on:
1 July 2017
Relevant facts and circumstances
The deceased passed in early 2016.
The property was valued at $X at the time of the deceased's passing.
The Property was sold for $XY on mid 2018
Relevant legislative provisions
Income Tax Assessment Act 1997 Section 102-20
Income Tax Assessment Act 1997 Section104-10
Income Tax Assessment Act 1997 Section 110-25
Income Tax Assessment Act 1997 Section 118-110