Common Tax Issues For Deceased Estates

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Common Tax Issues For Deceased Estates

This is a remote seminar held via the Webinar.net platform, a recording will be made available for up to 12 months, please follow the prompts in your login details email.

This webinar will cover key considerations when advising the executor or administrator of a deceased estate. It will explore strategies for resolving these issues and achieving the most tax-efficient outcomes for beneficiaries.

Mark Morris will discuss common issues affecting deceased estates that must be resolved before the estate can be finalised:

  • Identify when the executor or administrator of a deceased estate will become personally liable for the outstanding tax liabilities of the deceased, and implement practical steps to mitigate such a risk by conducting a thorough review of the deceased’s tax history including voluntary disclosures to the ATO where there is historical non-compliance;
  • Determine whether the deceased estate is eligible to rely on Practical Compliance Guideline PCG 2018/4 in fast tracking the administrative winding up of the estate for tax purposes, and steps that could be taken to mitigate the tax risks to the executor or administrator under that guideline which has recently been updated;
  • Review the scope of the main residence exemption as it applies to the deceased’s dwelling, and the capacity of the executor or administrator of the estate to obtain a further period of up to three and a half years in which to obtain a further extension of that exemption, and;
  • Discuss the merits of the beneficiaries entering into a deed of family arrangement to resolve disputes among beneficiaries, and the steps that should be taken to ensure that any variation of such beneficial interests does not trigger CGT.

Meet Your Speaker, Mark Morris

Mark is the Principal of Morris and Associates, a consulting firm that advises a diverse range of public companies, private family groups, and practitioners on complex tax matters, including business structuring, mergers and acquisitions, employment taxes, and succession planning.

Registration

Common Tax Issues For Deceased Estates

  • M (R:$150.00)
  • NM (R:$200.00)
  • S (R:$150.00)

* Price flags: R=Regular, E=Early, NM=Non Member, M=Member, S=Student

Prices are inclusive of GST where applicable. For further details on the GST amount charged on your purchase refer to your tax invoice which will be emailed to you on receipt of payment