In which case, the conclusion is that the estate is liable for Capital Gains Tax from the date of death (market value) until the asset was sold (sale price), the difference being the capital gains.
However, as the estate was under administration when the assets were sold, at that time, the CGT event occurred concerning these assets. In this case, the estate would be responsible for the CGT liability, not the beneficiaries.
Nonetheless, this circumstance is exempt because the assets sold were principal assets that established the foundation of the estate trust Y/N?
Thank you for your extensive support in this matter!
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