If you are one of the following you may be eligible for the concessions to the same extent that the deceased would have been just prior to their death:
- beneficiaries of deceased estates
- legal person representatives of the deceased (executors)
- surviving joint tenants
- trustees and beneficiaries of testamentary trustees (trusts that are created by the will of the deceased).
You will be eligible for the concessions where the CGT event happens within two years of the individual's death. Some of the conditions within each concession are modified in these cases. The Commissioner can extend this two year period.
For more information, see the Advanced guide to capital gains tax concessions for small business 2006–07.