Tax and Deceased Estates - Webinar Recording



Presented by Greg Russo

Australia has an idiosyncratic tax régime for deceased estates, with a combination of pitfalls and concessions for executors and administrators to consider.

This webinar focuses on taxation issues during the phases of deceased estate administration, from will drafting to estate finalization, including on taxation issues associated with testamentary trusts.

Deceased estate and testamentary trust taxation generally

  • General taxation framework of deceased estates and testamentary trusts taxation
  • Present entitlement
  • Tax rates: deceased estates and testamentary trusts
  • Minor tax rates

Estate administration - tax considerations

  • Date of Death and prior year returns
  • Executor liability - PCG 2018/4 - application and limitations
  • Estate taxation process

Testamentary trusts - some specific tax issues

  • Trust taxation process
  • Definition of income - a bespoke approach, power to modify - TR 2012/D1
  • More on income streaming - legislative requirements and restrictions
  • Capital protected trusts and life interests

Capital Gains Tax and deceased estates

  • CGT assets vs non-CGT assets
  • Rollover relief: when does it apply, tax advantaged entities, superannuation fund beneficiaries, non-resident taxpayer
  • CGT and the subject matter of a gift - direction to stream assets
  • CGT and the deceased's PPR - exemption, PCG 2019/5EC

Taxation of superannuation and deceased estates

  • Identifying superannuation death benefits
  • Tax treatment of payment of death benefits to LPR
  • Superannuation streaming and adjustment

Taxation of particular beneficiaries and charitable gift

 
 
Tax and Deceased Estates 2019


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