The Commissioner’s discretion to extend the two-year period to dispose of deceased person’s dwelling
| This Guideline outlines a safe harbour compliance approach that allows a person’s tax affairs to be managed as if the ATO had exercised the discretion to allow you a longer period. It also outlines the factors the Commissioner will consider when deciding whether to exercise the discretion to extend the two year period.
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Income tax – liability of a legal personal representative of a deceased person
| This Guideline is intended to enable LPRs of smaller and less complex estates to finalise those estates without concern that they may have to fund a liability of the deceased from their own assets. It sets out when an LPR will be treated as having notice of a claim by the ATO (including a claim arising from an amended assessment). |
Fixed entitlements and fixed trusts
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This Guideline outlines the factors the Commissioner will consider when deciding whether to exercise the discretion to treat an interest in the income or capital of a trust as being a fixed entitlement. It also outlines a safe harbour compliance approach that allows trustees of certain trusts to manage the trust’s tax affairs as if the Commissioner had exercised the discretion to treat beneficiaries as having fixed entitlements to income and capital of the trust.
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Trustee assessments |
This practice statement outlines the ATO practice of limiting the period within which we will raise an original trustee assessment where the trust tax return shows no trustee tax liability for that proposed assessment. The practice means that returns lodged by trustees are broadly exposed to similar time limits for review as other taxpayers.
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Change of trustee
| This practice statement outlines the ATO approach to the raising and recovery of income tax and GST liabilities of a trust where there is a change of trustee during or following an income year or a tax period. |
Capital gains tax treatment of the trustee of a testamentary trust
| This practice statement confirms the Commissioner’s longstanding administrative practice of treating the trustee of a testamentary trust in the same way as a legal personal representative for the purposes of Division 128 of the Income Tax Assessment Act 1997 , in particular subsection 128-15(3) |
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Practical Compliance Guidelines/Practice Statements