I was wondering if any one out here has any knowledge, or personal experience, of what the CGT implications are of inheriting shares from a deceased estate?
Specifically who pays the tax? Is it the beneficiary or the estate?
Also at what point does a CGT event actually occur? Is it at the moment of the deceased death, or at the moment that they are legally passed onto the beneficiary or when the beneficiary sells the shares?
Also some of the shares were purchased before 1985, and may be exempted from the CGT anyway??
I have had a wander around the ATO web site, and as normal, a lot of legal speak cloud's getting a clear understanding.
