Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_3:p17
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 17/17)
Character Range: 274016–275704

You are taken to have *acquired the *dwelling or your *ownership interest at the income time for its market value at that time.

 (3) If your *ownership interest in the *dwelling *passed to you as a beneficiary in a deceased estate, or you owned it as the trustee of a deceased estate and the *CGT event did not happen within 2 years of the deceased' death, you apply this Subdivision as if:

 (a) you had *acquired the interest as an individual and not as a beneficiary or trustee of a deceased estate; and

 (b) for applying the formula in section 118‑185, your non‑main residence days were the number of days in your *ownership period when the dwelling was not the main residence of an individual referred to in item 2, column 3 of the table in section 118‑195.

Dwellings acquired from deceased estates

118‑195  Dwelling acquired from a deceased estate

 (1) A *capital gain or *capital loss you make from a *CGT event that happens in relation to a *dwelling or your *ownership interest in it is disregarded if:

 (a) you are an individual and the interest *passed to you as a beneficiary in a deceased estate, or you owned it as the trustee of a deceased estate; and

 (b) at least one of the items in column 2 and at least one of the items in column 3 of the table are satisfied.

Beneficiary or trustee of deceased estate acquiring interest
Item                                                          One of these items is satisfied                                                                                                                                                                                                                And also one of these items