Income tax: capital gains: does section 160X of the Income Tax Assessment Act 1936 apply to assets acquired by a legal personal representative which were not owned by the deceased at the date of death?

No. The roll-over relief provided by section 160X of the Income Tax Assessment Act 1936 only applies to assets owned by a person at the time of the death of that person.

Section 160X applies where an asset which formed part of the estate of the deceased passes to a legal personal representative. In the context of the section, we consider that this refers only to assets owned by the deceased at the time of death.