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Deceased Estate and Capital Gains
You sold an asset within 2 years of death of testator. If it is either a pre-CGT asset of the deceased OR it was the main residence of the deceased just before death (and not used to earn income at that time), then it should be exempt. The tests are in the alternative. At least one item...- Rob G.
- Post #5
- Forum: Accounting and Tax
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Deceased Estate and Capital Gains
From your facts (Pre-CGT or PPOR of deceased) it looks like a straightforward application of s.118-195. However, your accountant would be in possession of far more facts than available in your posting.- Rob G.
- Post #2
- Forum: Accounting and Tax