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Capital Gains on inheritance (shares) (company structure)

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Hi, 

When receiving an inheritance of shares under a company structure that has other beneficiaries involved what capital gains tax will occur. 

 

If I transfer these shares under my own personal name will I have to pay capital gains tax twice? 

When the shares get transferred and then when they get sold later down the track? 

 

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ATO Certified Response

ATO Community Support

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Hi @Everlyjones123

 

Generally if an individual inherits shares, the market value is worked out from the date the person died. However, they are not reportable until the beneficiary sells or disposes of them. At this point the individual would need to declare a capital gain or loss on their return. 

 

We have information on our website about inheriting shares. If you still have questions you may write in to our early engagement team for further advice.

 

Links-

Deceased estates and capital gains tax. 

Early engagement team. 

 

All the best. 

1 REPLY 1

Most helpful response

ATO Certified Response

ATO Community Support

Replies 0

Hi @Everlyjones123

 

Generally if an individual inherits shares, the market value is worked out from the date the person died. However, they are not reportable until the beneficiary sells or disposes of them. At this point the individual would need to declare a capital gain or loss on their return. 

 

We have information on our website about inheriting shares. If you still have questions you may write in to our early engagement team for further advice.

 

Links-

Deceased estates and capital gains tax. 

Early engagement team. 

 

All the best.