Capital gains tax on share sales

Yes but i didnt disclose it in my last return

 

You are correct! I was confused by the wording of the ATO:

"If you're a beneficiary or legal personal representative, you are taken to have acquired the asset on the day the person died" and I assumed this meant value on the day the asset is aquired.

But you are correct:

"If the deceased acquired the asset on or after 20 September 1985, the first element of your cost base and reduced cost base is taken to be the deceased’s cost base and reduced cost base for the asset on the day they died."

Will edit previous post if I can. [EDIT] I have deleted previous posts - apologies for the wrong information here!!!

 

No

 

Did you hold them for more than 12 months?
And what's your current tax bracket?

 

Hi mikey
Not only held them for a week.
Is there a tax exemption after 12 months ?

 

There's a 50% CGT reduction post 12 months