Deceased estates, trading stock and ‘notional’ trading stock (standing or growing crop stools).

Whoever subscribes to the theory about the certainty of death and tax, probably hasn’t stood in the shoes of a legal personal representative (LPR) attempting to administer the estate of a deceased person in a modern taxation system. Remember, that the LPR is personally exposed to liability for income tax in relation to the affairs of the deceased and of their estate.

…yes, relevant fees incurred by a legal personal representative (LPR) that relate to the deceased’s tax affairs (rather than those of their estate), are deductible in the deceased’s date of death income tax return.

If a deceased person owned two separate apartments and joined them together to make one large apartment, would the main residence exemption extend to both apartments?

How to access the small business CGT concessions that a deceased individual might have been entitled to access immediately prior to their death.

The importance of appropriate trust accounting to ensure the best tax outcomes.