Grandad died and left me CBA shares but no information or records on when he purchased them. I'm sure he purchased them before 1998 but after 1985
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1,376 views
4 replies
Shares purchased AFTER 20 September 1985, then the cost base was what Grandad paid for them.
That is correct.
If the deceased acquired the asset on or after 20 September 1985, the first element of your cost base is generally what the deceased’s cost base for the asset was on the day they died.
from
For shares, that means
- Cost to original owner
- less return of capital, if any
- adjusted for any events, like demergers, etc
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Hi @grumpy55,
So sorry for your loss, you must've had a really great relationship. 😔
For the cost base on shares bought after 1985 and inherited from a deceased relative, you need to look up the cost base of them at the time they were transferred to you (aka the time of your grandfathers passing).
A search online should get you that info, but if you need more help please seek advice from a registered tax agent or financial advisor. 👌
Thanks BroncosvRabbits.
I understood that if shares were purchased prior to 20 September 1985, then the cost base was the value at the date of death. Shares purchased AFTER 20 September 1985, then the cost base was what Grandad paid for them.
That's my problem - I'm certain he bought them after 1985 and there is no documentation regarding when he bought them and how much he paid for them. I just don't know where to start.....
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