Tax Effective Estate Plans - a Power Pair of recorded webinars

This Power Pair comprises 2 of our most popular webinars dealing with tax aspects of estate planning from the past year.  Each recorded webinar is one hour in length.

Webinar 1: Testamentary Trusts: Don’t Let Paying the Minimum Rate of Tax Turn into the Highest

A relatively recent tax law change is to only allow concessional tax treatment on the income distributed to minors from TTs if the income is derived from assets related to the property of the deceased. This change is providing some challenging scenarios for accountants, with this session exploring the issues, including:

• What is “excepted” income in a TT?
• When will income in a TT not attract concessional tax rates?
• How to calculate excepted income when a TT includes assets unrelated to the deceased?
• How are dividend reinvestment plans treated?
• Does a TT borrowing funds to invest affect the taxing of income on the assets acquired with the borrowed funds?
• How assets in a TT that are unrelated to the deceased estate can cause compounding issues requiring ongoing tracing requirements
• What are the differing tax rates and eligible tax offsets that can apply on TT distributions to children under 18?
• Practical examples and tips for managing post death asset

Webinar 2: The Tax Aspects of the Executor’s Role (and the Impatient Beneficiary)

Acting as an executor of a deceased estate is not without its challenges. Time limits, complex tax matters to address and the various personalities benefitting from the legacy can significantly increase the stress levels for most. This session focuses on the tax related aspects of the executor role, and provides an understanding of why the process requires a certain amount of time and patience, including:

• The time limits an executor should be mindful of
• How to access a deceased person’s tax and super data
• The tax obligations of executors and beneficiaries during the various stages of administration of a deceased estate (IT 2622)
• What are the executor obligations if the deceased:
  • operated a business as a sole trader?
  • was a partner in a business?
• Action to take if further assets are identified that haven’t had their tax implications disclosed in previous income tax returns
• When can the executor be personally liable for outstanding tax liabilities of the deceased or their estate? (PCG 2018/4)
• A checklist to cover ATO interaction, notifications and lodgements required
• Practical examples of providing for tax liabilities, including:
  • when a beneficiary is a non-resident
  • when a super death benefit is received

*** SPECIAL PURCHASE OFFER – EARLY EOFY SALE ***

This pair of recorded webinars would usually cost $539, but as part of the Early EOFY sale you can buy the pair for only $297 if you order by 31.5.24.