QUESTION:
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Is it correct that capital gains tax can be deferred on shares transferred as part of a will that instructs the executor to transfer shares into the name of a beneficiary? If so, can the nominated beneficiary be a SMSF?
ANSWER:
A superannuation fund cannot be the beneficiary of a will. When assets are left under a will, the capital gains tax liability moves to the beneficiary - no CGT will be payable until they dispose of the asset.
