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What are the CGT consequences for the adult grandchild 'X' who now has a greater fixed entitlement of 30%?

There are no CGT consequences for the adult grandchild 'X' who now has a greater fixed entitlement of 30%. This ruling applies for the following periods : 30 June 20XX 30 June 20XX 30 June 20XX The scheme commences on: 1 July 20XX

The deceased died in 19XX. A testamentary trust was created in 19XX which included the family home. The surviving spouse lived in the family home until 19XX. From 19XX to 19XX it was rented out as a commercial property. In 19XX, the property was demolished and several new shops were constructed. The testamentary trust had distributed fixed entitlements in accordance with the deed as follows: •         Adult Child A = 25% •         Adult Child B = 25% •         10 Grandchildren (now adults) = 5% each In 20XX, Adult Child A passed away, leaving their fixed entitlement to their son ('X') who was then entitled to their 25% share in accordance with the trust deed. That is, 'X' is now entitled to 30% of the income and capital of the Trust (his original 5% + parent's 25%).

Income Tax Assessment Act 1997 Section 149-10 Income Tax Assessment Act 1997 Section 149-15 Income Tax Assessment Act 1997 Section 149-30