Commonwealth Consolidated Acts Commonwealth Consolidated Acts(a) a replacement asset, or an asset in relation to which * fourth element expenditure has been incurred, formed part of the estate of an individual who has died; and
(b) either or both of the following apply:
(i) the asset has devolved to the deceased's * legal personal representative;
(ii) the asset has * passed to a beneficiary of the deceased; and
(c) a change covered by subsection 104 - 185(2) or (3) did not happen while the deceased owned it or, if the asset has passed to a beneficiary, while the asset was in the hands of the deceased's legal personal representative.
(2) For the purposes of this Subdivision, anything done or not done by the deceased in relation to the asset is treated as though it had been done or not done by the * legal personal representative.
(3) For the purposes of this Subdivision, if the asset has *
passed to a beneficiary, anything done or not done by the deceased or by the
deceased's * legal personal representative (including because of the
operation of subsection (2)) in relation to the asset is treated as
though it had been done or not done by the beneficiary.