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CGT discount for non-resident beneficiaries

Published on 09 Apr 2014 | Took place at The Tax Institute, Sydney , NSW

8 May 2012 has become a critical date for non-resident beneficiaries of Australian trust estates including beneficiaries of wills) as after that date the CGT discount on CGT events happening to the trustee will no longer attract the 50% general discount. The transitional rules and the interplay with Division 855 of the 1997 Act make a seemingly simple legislative endeavour exceedingly complicated.

This event covered:

  • how the denial of discount rules generally operate
  • their specific application to beneficiaries of Australian resident trusts
  • the interplay with Division 855
  • the transitional valuation method of apportionment
  • how deceased estates with non-resident beneficiaries are impacted upon.

Individual sessions

CGT discount for non-resident beneficiaries

Author(s):  Gordon S COOPER

This presentation covers:

  • how the denial of discount rules generally operate
  • the interplay with Division 855
  • the transitional value method of apportionment.
Materials from this session: