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Yes. Its a strategy too. Also a DT of course. Inter-generational wealth transfer is a whole industry for some family groups. Like the Packers and Reinharts they dont see themselves as "owning" the wealth but pass it on and try to avoid tax in the process. Until they take it public in court...

Australia has no rules that limit losses based upon time EXCEPT non-commercial losses. Some small businesses that incur losses must pass tests to offset the loss against other income. Test are intended to ensure that the business has a commercial footing. The loss carries forward until a test is...

Being involved in aged care as part of our lifetime financial & tax strategies we see things differently. We recommend tax advice BEFORE DEATH where there are significant assets esp non-property. - Utilise Cfwd CGT losses (that terminate on death). - Identify CGT assets...Costs base...

Terry raises a valid point...Losses carry fwd until death they they vaporise. Its a often overlooked tax strategy for a person with terminal illness, ageing etc to crystalise just enough cap gains to offset losses before death. This gives a better cost base to those who inherit too. Not...