CGT and other tax implications for sale of inherited items (non-property)

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CaroATO · Answer

Do you know what your mum's cost base (https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/inherited-assets-and-capital-gains-tax/cost-base-of-inherited-assets#ato-Assetacquiredbydeceasedfrom20September1985) was? This is what you'll use for assets you inherit. Try to pull together as much info as you can about her cost base. It's not possible to substitute it for the market value.

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