Private ruling: Capital gains tax - Capital gain - Deceased estate.
Date of advice: 28 May 2019
Published: November 2019
Ruling period: Year ending 30 June 2019
Date scheme commenced: 1 July 2017

Ruling: Q1: Was there a capital gain from the sale of the real estate property? | A1: No

Relevant facts and circumstances: The deceased passed in early 2016. The property was valued at $X at the time of the deceased's passing. The Property was sold for $XY on mid 2018

Relevant legislative provisions: Income Tax Assessment Act 1997 Section 102-20 | Income Tax Assessment Act 1997 Section104-10 | Income Tax Assessment Act 1997 Section 110-25 | Income Tax Assessment Act 1997 Section 118-110