Death of a Taxpayer 2022 - 24 November 2022 (On Demand)
The death of a taxpayer can have wide reaching and unexpected taxation consequences. Topics covered will include:
- Income tax consequences of asset transfers on the death of an individual, including:
- When is a market value disposal of assets deemed to occur?
- How do the tax rules apply for different asset classes in an estate?
- When is “rollover relief” available?
- Consideration of inheritances and considerations that arise
- Estate and succession planning considerations so that any taxation consequences are managed and/or mitigated
- We will touch on wider issues associated with ownership of entities as are relevant upon the death of an individual
- Estate/Trust disclosure matters to consider
- GST consequences of asset transfers by an individual on death
ORIGINAL BROADCAST DATE
24 November 2022
Upon satisfactory completion of this activity you will be able to:
- Identify the relevant rules and apply them to a factual position
- Understand the implications of the creation of trusts under a will
- Work through relevant income tax and GST considerations arising from the death of an individual
- Accountants of all levels, particularly those advising clients on estate and succession matters
- Lawyers advising on wills, trusts, succession and other estate matters
- Other professionals providing executor, trustee or other estate related services
Nola Crafar, Senior Manager – Tax Advisory, Findex (presenting on behalf of TEO).
1.25 CPD Hours
On Demand Event
Complete online in your own time (Self-paced)