Hi,
I understand that "If you stop being an Australian resident, you are taken to have disposed of each of your assets that are not taxable Australian property for their market value at the time you stopped being a resident." (https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/foreign-residents-and-capital-gains-tax/taxable-australian-property)
Now my questions is more complex as the shares is held under trust with myself as individual Trustee. So when I become non resident my understanding that my Trust also become non resident and can also deem all the assets to be disposed when I become non resident. Now the questions is mainly about access to the 50% CGT discount. If on the same day of the deemed disposal my trust elected to distribution the full CGT to me as beneficiary of the trust. would I be eligible for the 50% CGT discount under my individual name ?All my reading and research on the ATO website talks about straight individual case with no case about deemed disposal for Discretionary trust with individual Trustee
I am referring to this ato case that only talks about individual case but nothing about trust.https://community.ato.gov.au/s/question/a0JRF0000024Vld/p00324257
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