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Recorded Webinars
The lifespan of a testamentary trust will be reliant upon the terms of the deed. Some of those terms state that the trust is to exist for a number of generations, or until beneficiaries reach a certain age, or until a variety of other requirements are met. This session looks into

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About the Webinar

The lifespan of a testamentary trust will be reliant upon the terms of the deed. Some of those terms state that the trust is to exist for a number of generations, or until beneficiaries reach a certain age, or until a variety of other requirements are met. This session looks into the tax aspects of a TT that has assets remaining when it reaches the end of its life, including:

  • Can a TT end before the conditions of its deed say it can?
  • What are the tax consequences, if on the termination of a TT, the trustee:
    • sells CGT assets prior to, however in the same financial year, as the final distribution
    • transfers remaining CGT assets to beneficiaries?
  • Can the trustee extend a vesting date, and if so:
    • are there any tax consequences?
  • Can a discretionary TT continue to be discretionary if its vesting date has passed?
  • When may beneficiaries be the “taxpayer” for a CGT asset, even though the asset is held or sold by a trustee of a TT, including:
    • why it may matter whether or not the asset in question is “fungible” (TR 2004/D25)
    • the tax treatment when there are multiple beneficiaries
  • The tax implications when the CGT asset remaining on the cessation of a TT is a property remaining after the death of a life tenant, where:
    • the property is sold by the trustee and funds disbursed to remainder beneficiaries
    • the property is transferred to remaining beneficiaries
  • Practical examples

Presented By

Nathan Yii
Principal Lawyer, Chartered Tax Advisor and SMSF Specialist Advisor, Nathan Yii Lawyers Melbourne, Vic

Nathan Yii is the Principal Lawyer, Chartered Tax Advisor and an accredited SMSF Specialist AdvisorTM of the Melbourne based legal practice, Nathan Yii Lawyers. He is a graduate of Melbourne Law School and holds a Bachelor of Commerce (Accounting), a Bachelor of Laws (Hons) and a Master of Laws. He is a leading structuring and estate planning lawyer, a university lecturer and presenter and is recognised in Doyles’ Guide as a Preeminent Wills, Estates & Succession Planning Lawyer and a Leading Wills & Estates Litigation Lawyer in Victoria in 2021.

Nathan takes a strategic approach to legal practice and focuses on tax-effective solutions, estate planning, asset protection, SMSF compliance and trusts, estates and SMSF disputes. He works with and consults to high net worth individuals, family offices, legal and non-legal professionals and their clients.

Nathan is a regular presenter in his areas of interest and expertise and regularly presents for legal and accounting CPD providers and discussion groups around Australia. He is also an adjunct lecturer and advisory committee board member for the Estate Planning Practice Specialisation in the Master of Laws program at the College of Law.

Who Should Attend?

This webinar is suitable for lawyers and accountants throughout Australia who advise in estate planning matters. 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/Training 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.

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.

Enquiries/Assistance

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

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