- The current significant level of inter-generational wealth transfers makes Death & Taxes a highly relevant topic. In this paper, Michael Flynn, CTA will discuss issues that may arise in administering deceased estates. Michael addresses the following topics:
- when are beneficiaries presently entitled to estate income?
- Commissioner of Taxation recovering estate tax liabilities personally from executors(Barkworth Olives Management)
- tax consequences of realising assets
- varying the terms of a will after death
- CGT event K3 and distributing assets to tax exempt and nonresident beneficiaries.