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I'm non resident for tax purposes, and a beneficiary to part of a deceased estate. The home was purchased in 2000. Main residence status of the home is undetermined as yet. Other beneficiaries to the estate are Australian residents.
If the home passes from the deceased estate to the beneficiaries, and is then sold, and each beneficiary is to pay their own CGT, are all beneficiaries entitles to the 50% CGT discount? or only the Australian residents?
Hi, just extending from this question, according to the linked ATO site:
You must calculate the CGT discount you can apply to the capital gain you have if you are an Australian resident and, after 8 May 2012, you have:
How does one go about calculating the CGT discount if they have mixed periods of being an Australian resident for tax purposes and not being a resident for tax purposes after 8 May 2012?