I was wondering what is the best way to look after my 3 children after I pass.
Should I just keep my home (main dwelling) and let them sell it after I pass
OR
Should I sell the house now and put the funds into an account so I can live off the interest but leave the proceeds of the sale to my children when I pass?
Which way will be better for them tax-wise?
Thanks.
If your property will be CGT exempt (capital gains tax) on the date of your death then it will be exempt for your estate or beneficiaries if they sell within 2 years.
3 exceptions to this. See question 7 in last link.
Link explains when a main residence is exempt
Eligibility for main residence exemption | Australian Taxation Office
Link explains the treatment of inherited property - work through the questions
If your property will be CGT exempt (capital gains tax) on the date of your death then it will be exempt for your estate or beneficiaries if they sell within 2 years.
3 exceptions to this. See question 7 in last link.
Link explains when a main residence is exempt
Eligibility for main residence exemption | Australian Taxation Office
Link explains the treatment of inherited property - work through the questions
Inherited property and CGT | Australian Taxation Office
Ok thanks for your reply @taxduck
Yes my house will be CGT exempt if they sell it within the 2 years of my passing.
I was also interested to know if I sell my house BEFORE I pass and live off the interest.
When I pass I can then leave whatever money is left to the kids - will this money attract any tax because they will be 'inheriting' it? We are talking around the $4M mark.
Thanks.
15 Apr 2026 · 4 min read time
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