Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-3 - CAPITAL GAINS AND LOSSES: SPECIAL TOPICS  

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Division 128 - Effect of death  

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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:

  • • an exempt entity; or
  • • the trustee of a complying superannuation entity; or
  • • a foreign resident.
    • Note 2:

    There is a special indexation rule for deceased estates: see section 114-10 .

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