Although people do prepare Wills, tax considerations are often the furthest thing from anyone’s mind during that process. As a result, the death of a taxpayer can have wide reaching and unexpected taxation consequences.
Topics covered in this webinar will include:
1. Income tax consequences of asset transfers on the death of an individual, including:
- When is a market value disposal of assets deemed to occur?
- How do the tax rules apply for different asset classes in an estate?
- When is “rollover relief” available?
2. GST consequences of asset transfers by an individual on death.
We will touch on wider issues associated with ownership of entities as are relevant upon the death of an individual.
Upon satisfactory completion of this activity, you will be able to:
- identify the relevant rules and apply them to a factual position
- understand the implications of the creation of trusts under a will
- work through relevant income tax and GST considerations arising from the death of an individual
- accountants of all levels, particularly those advising clients on estate and succession matters
- lawyers advising on wills, trusts, succession and other estate matters
- other professionals providing executor, trustee or other estate related services.
Total CPD Hours: 1.25 (1 hour 15 min)
Nola Crafar, Senior Manager, Findex/Crowe
Nola is a Senior Manager for Findex in the Dunedin Tax Team. Nola has been with Findex for over 15 years, where she advises on a wide range of tax matters, including property transactions and property ownership structures, structuring opportunities for businesses including relationship property considerations, providing advice on the tax treatment of transactions for clients and other professional advisory firms and managing Inland Revenue Department queries, disputes and debt relief applications.
22 November 2023 - 23 November 2023