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Joseph123(Enthusiast)Enthusiast
4 Sept 2023

Does the share portfolio attract CGT when it is transferred to the testamentary trust (TT) in NSW? As I understand, TT will need to have its own HIN number. What is the mechanism of transfer shares to TT after the person's death? Will TT need to hold shares more them 1 year after transfer to get 50% reduction on CGT?

Thank you

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CatherineATO(Community Support)Community Support
6 Sept 2023

Hey @Joseph123!


There are special rules for CGT and passing on of assets from a deceased estate. Generally speaking CGT would be disregarded if criteria is met. Who are the shares with? There should be an off-market transfer form for deceased estates. They can also advise if the TT needs a HIN. You're correct about the 12-month ownership before the CGT discount can be applied.


Check all the info on our deceased estate and CGT page!

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Most helpful reply

CatherineATO(Community Support)Community Support
6 Sept 2023

Hey @Joseph123!


There are special rules for CGT and passing on of assets from a deceased estate. Generally speaking CGT would be disregarded if criteria is met. Who are the shares with? There should be an off-market transfer form for deceased estates. They can also advise if the TT needs a HIN. You're correct about the 12-month ownership before the CGT discount can be applied.


Check all the info on our deceased estate and CGT page!

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Does the share portfolio attract CGT when it is transferred to the testamentary trust in NSW? | ATO Community