Our regular round-up of what Noel Whittaker is writing about, and why it matters to you.
In the "From the mailbox" section of his August issue of Noel News, Noel Whittaker answers the questions his readers are actually asking about the new capital gains tax (CGT) rules — and the answers deserve your attention if you expect to inherit assets from your parents, or to leave some to your children.
The big change: a death after 1 July 2027 will now trigger what the rules call a realisation event on any capital gains accrued before that date. One reader asked about a share portfolio bought for $300,000 and now worth $500,000. Noel's answer shows how much timing now matters. If the owner dies before 1 July 2027, no CGT is payable on death and the beneficiary inherits the original cost base, just as families have long expected. If death comes after that date, the estate pays tax on the gain built up to 30 June 2027, and the beneficiary takes the 30 June 2027 market value as their new cost base. Where there's little cash in the estate, some of those very shares may have to be sold just to pay the bill.
A second question covers selling a property whose value rises before 30 June 2027 but falls afterwards. The answer is more generous than you might fear: the later loss reduces the earlier gain before the 50% CGT discount is applied.
For anyone aged 40 to 60 — the generation most likely to inherit over the next decade and to leave assets to adult children — the practical message is to get valuations, records and wills in order well before mid-2027.
"The recent changes rushed through Parliament, have changed the rules dramatically – a death after 1 July 2027 will now trigger a realisation event on any pre-1 July 2027 capital gains."
Read the full article: Noel News August 2026 — From the mailbox — Noel Whittaker, Noel News, August 2026.
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