CGT and calculating the cost base of inherited shares

Discussion in 'Share Investing Strategies, Theories & Education' started by integrafolia, 10th Jun, 2009.

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  1. integrafolia

    integrafolia New Member

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    I inherited some shares from my grandmother upon her death in November 2007. During the 2008-2009 financial year I've sold some of these shares and I'm now wondering what Capital Gains Tax I may be liable for at tax time. Is my cost base for the parcel of shares I inherited calculated on the share value at November 2007 or is my cost base effectively my grandmother's cost base and hence is contingent on the value of the shares at the time of purchase which was at various times between 1982 and 2007 - not many purchased pre '85.
     
    integrafolia, 10th Jun, 2009
    #1
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