I am the executor and sole beneficary of Commsec Shares all bought after 2009. I believe I have the option of selling them first - instead of having them transferred into my name. (within Commsec I guess).
Would I (or the deceased) pay any Capital gains tax on them if I sold them as outlined above?
I realize if I inherit them I will not pay capital gains tax until I sell them.I am totally confused.
I would recommend seeking the advice of an accountant - there are a few things to note here - and it is difficult to give specific advice without a full understanding of your situation.
But broadly - yes if the shares are sold in the deceased estate and the funds then transferred to the beneficiaries the deceased estate will pay the capital gains - but remember any capital losses will be lost if there are any remaining after lodgement of the deceased estate tax return.
I would recommend seeking the advice of an accountant - there are a few things to note here - and it is difficult to give specific advice without a full understanding of your situation.
But broadly - yes if the shares are sold in the deceased estate and the funds then transferred to the beneficiaries the deceased estate will pay the capital gains - but remember any capital losses will be lost if there are any remaining after lodgement of the deceased estate tax return.
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