Structures, Estates and the Tax Snags in Between – a Taxation Power Pair of recorded webinars

This Power Pair comprises 2 popular tax webinars from the last 6 months.

Webinar 1: From Trust to a Company: Making the Switch Without the Tax Sting

The use of trusts can bring about numerous benefits. However, they are becoming increasingly complex to administer and they can pass their use by date, not just with a reference to their “vesting date”, but also with a reference to the benefits of using an alternative corporate structure that for some situations may provide more pros than cons. This session looks into when it may be time to consider a change, and if so, how to tax effectively manage the process, including:

• The pros and cons of the use of a trust structure versus the use of a company structure
• The situations that may be conducive to changing from a trust structure to a company
• The various methods that can be used to tax effectively change a trust structure to a company and the pros and cons of each 
• Can restructure/rollover options be a viable option when a trust is approaching or past its vesting date?
• Are there any methods to change a trust structure to a company that can:
  • keep the history for the potential future use of the small business CGT 15 year exemption intact?
  • remove “skeletons in the closet” from the trust's trading history for asset protection purposes?
• How the asset mix of a trust entity impacts on the decision of choosing the option to use for a change
• The issues besides income tax and capital gains tax that a tax practitioner should be mindful of when advising on the alternative approaches
• Case study

Webinar 2: Deceased Estates: How Exempt is the Main Residence Exemption?

During a person’s lifetime, their main residence is exempt from CGT if certain conditions are satisfied. However, once the residence becomes an “inherited main residence”, the conditions for the exemption can have added complexities. This session explores the issues, including:

• The conditions to be met for the main residence CGT exemption to apply in a deceased estate
• How the rules apply to a main residence owned by the deceased with another party, either jointly or as tenants in common?
• The ATO’s safe harbour provisions when time limits for the sale are not met (PCG 2019/5)
• Dealing with situations where deceased moved from the solely owned residence prior to death (ie. nursing home, family member’s home), and:
  • the spouse remained in the family home, or
  • the residence became income producing
• How to calculate a capital gain on a main residence if the exemption conditions are not met
• Tax issues to consider if the executor:
  • subdivides the land the main residence is situated on prior to sale
  • demolishes the family home as part of the subdivision prior to the sale
• How state and revenue taxes and duties can apply post death
• Practical examples

Special Purchase Offer – TEN’s 50th Birthday Sale

This pair of recorded webinars would usually cost $539, but as part of 50th Birthday Sale Offer you can buy the pair for only $330 if you order by 12.12.25.