Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 2/4)
Character Range: 2736106–2738671

by your legal personal representative in satisfaction of a pecuniary legacy or some other interest or share in your estate; or
 (d) under a deed of arrangement if:
 (i) the beneficiary entered into the deed to settle a claim to participate in the distribution of your estate; and
 (ii) any consideration given by the beneficiary for the asset consisted only of the variation or waiver of a claim to one or more other *CGT assets that formed part of your estate.
  (It does not matter whether the asset is transmitted directly to the beneficiary or is transferred to the beneficiary by your *legal personal representative.)
 (2) A *CGT asset does not pass to a beneficiary in your estate if the beneficiary becomes the owner of the asset because your *legal personal representative transfers it under a power of sale.

128‑25  The beneficiary is a trustee of a superannuation fund etc.
 (1) This section has rules about *cost base and *reduced cost base that are relevant if you die and a *CGT asset you owned just before dying *passes to a beneficiary in your estate who (when the asset passes) is the trustee of a *complying superannuation entity.
Note: A capital gain or loss is also made: see section 104‑215.
 (2) The beneficiary is taken to have *acquired the asset on the day you died. The first element of the *cost base and *reduced cost base of the asset is its *market value on that day.
 (3) The beneficiary can include in the *cost base or *reduced cost base of the asset any expenditure that your *legal personal representative would have been able to include at the time the asset *passes to the beneficiary. The beneficiary can include the expenditure on the day the representative incurred it.

Special rules for joint tenants

128‑50  Joint tenants
 (1) This section has rules that are relevant if a *CGT asset is owned by joint tenants and one of them dies.
 (2) The survivor is taken to have *acquired (on the day the individual died) the individual's interest in the asset. If there are 2 or more survivors, they are taken to have acquired that interest in equal shares.
Note: Joint tenants are treated as owning a CGT asset in equal shares: see section 108‑7.
 (3) If the individual who died *acquired his or her interest in the asset on or after 20 September 1985, the first element of the *cost base of the interest each survivor is taken to have acquired is:
  The first element of the *reduced cost base of the interest each survivor is taken to have *acquired is worked out similarly.
Example: In 1999 2 individuals buy land for $50,000 as