AAT decision stands despite taxpayer’s death The Administrative Appeals Tribunal (AAT) recently held in in Mavris and FCT (2018) AATA 4130 that it had the jurisdiction to make a decision concerning an objection decision after the completion of a hearing even though...
“The Australian Tax Pitfalls of Administering an Estate with International Connections”
“Taxation of Estates with International Connections”
This is a very frequently raised question that is not well understood.
On 27 June 2019 the Commissioner of Taxation issued the Practical Compliance Guideline PCG 2019/5 to provide an executor (or beneficiary) of a deceased estate with a safe harbour that can be relied upon if a dwelling of a deceased cannot be sold and settled within...
Joint session with Bryan Mitchell of Mitchell Solicitors
Taxation of Deceased Estates for Estate Practitioners.
In addition to finalising a deceased estate, an executor is responsible for settling any outstanding tax obligations...
On 22 March 2020 the Federal Government announced that it would provide a tax free payment of up to $100,000 for eligible small and medium sized businesses that employ workers who withhold Pay As You Go (PAYG) tax from salary and wages. Equivalent relief will also...
Death & Taxes: some practical discrete issues
In addition to finalising a deceased estate, an executor is responsible for settling any outstanding tax obligations...
Elder and Succession Law Conference
We wanted to take this opportunity to let our valued clients know that we are still very much operational in these challenging times and that our office hours and contact details remain unchanged. We acknowledge the significant impact the Coronavirus is having on...
Introduction BNR Partners regularly consults on the potential impact of Division 7A of the Income Tax Assessment Act (1936) on its clients including private companies that form part of a deceased estate. To recap, Division 7A ensures that the making of a payment or...
Joint session with Bryan Mitchell of Mitchell Solicitors
Deceased Estates (advanced)
Death and Tax Symposium – “International aspects of taxation within Deceased Estates and Testamentary Trusts”