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Recorded Webinars

Recorded Interactive Webinar: Tax Aspects of Dealing with Parental Gifts Pre and Post Death

With high cost of living pressures and housing prices are proving challenging, early inheritances are a way for parents to pass on their assets to the next generation and see the benefits of the gift in their own lifetime. So, from a tax perspective, what difference does it make w
PRESENTED BY Kate Salkeld Associate - Cleary Hoare Solicitors , Sydney

Date/Time

About the Webinar

With high cost of living pressures and housing prices are proving challenging, early inheritances are a way for parents to pass on their assets to the next generation and see the benefits of the gift in their own lifetime. So, from a tax perspective, what difference does it make whether assets are realised pre or post a parent’s death? This session explores the question, including:

  • A comparison of the tax implications of an investment property sale pre death and in the course of administering an estate
  • Transferring a property to a family member pre death or in accordance with a will – what are the tax differences?
  • Are there stamp duty or land tax implications if:
    • a property title is transferred from parents to a family member to live in?
    • a property is used by a family member and subsequently transferred to them in accordance with a will
  • The tax consequences of entering into a formal agreement with a family member to use a property financed by parents:
    • if the property will be subsequently transferred to the family member (ATO ID 2005/216), and
    • how to calculate CGT event B1 if triggered
  • Case study examining: Parents plan to knockdown home and subdivide, building new home on one block and a residence for adult child on second block:
    • What are the tax, including land tax, implications if the property remains in the name of the parents?
    • What are the tax and stamp duty implications if the title to the second block is transferred to the adult child?
    • Could main residence exemption be lost from date of original purchase to date original dwelling ceased to be occupied?
      Sec. 118-150(5) ITAA 1997)

Presented By

Kate Salkeld
Associate, Cleary Hoare Solicitors Sydney, NSW

Kate joined the Cleary Hoare team in October 2017 and is based in our Sydney office. She recently completed a combined Bachelor of Laws (Honours) / Bachelor of Commerce (Accounting) at the University of Notre Dame Australia and was admitted as a Solicitor in New South Wales in 2019.

Kate has a strong interest in taxation law, having written her Honours thesis on the recently introduced diverted profits tax. During her time at Cleary Hoare, Kate has enjoyed tackling a wide range of complex taxation issues.

In her spare time, Kate enjoys singing, attending sporting matches and cooking up a storm.

Who Should Attend?

This webinar is suitable for accountants and lawyers advising in taxation matters – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Accountants can claim up to 1 CPD hour. Lawyers can claim up to 1 CPD unit/point – substantive law. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

OPTIONAL ONLINE QUIZ

We will be adding an optional online quiz to the recording of this webinar to make it interactive in terms of the type of CPD that can be claimed. Upon completion of the quiz the successful registered user will receive a CPD certificate confirming completion and the CPD units/points/hours earned. The online quiz will be available with the recording – typically within 1 to 2 days of the live webinar being held.

WA lawyers – Please note that TEN is unable to verify your completion of recorded webinars to the Legal Practice Board of WA. TEN is an accredited provider.

While TEN takes all reasonable care to include accurate and up-to-date information regarding CPD category classifications and compliance obligations, information regarding CPD point allocation are provided as a guide only. Allocation of CPD points is subject to the CPD requirements of your jurisdiction, personal circumstances and professional requirements. You are solely responsible for determining whether a particular product is appropriate for your CPD requirements.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Jason Hooker on (03) 8601 7709 or email: [email protected]

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