The beneficiary of a deceased estate has up to two years to dispose of the dwelling of the deceased  before they will incur tax.  

The time period starts from the date of death.  The property must be not only sold but settled within the two year time period in order to obtain the Capital Gains Tax Free exemption.

Any income generated from the dwelling during the two year time frame will not effect access to the capital gains tax exemption. 

Refer to TD 1999 / 70

If you would like to discuss further please contact us:
McNamara and Co - Chartered Accountants, located minutes from the Melbourne CBD
www.mcnamaraandcompany.com.au/contact-us
Phone +61 3 9428 1062
Email admin@mcnamaraandco.com

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