Miscellaneous 2022

Tax and estate planning in 2023: the road ahead

Source: Taxation In Australia Journal Article

Published Date: 1 Nov 2022


Understanding holistic tax and estate planning is critical for all tax advisers. In 2023, the extraordinary monetary value involved in the intergenerational wealth transfer of Australia's "baby boomer" population will continue to escalate. Arguably, tax-driven estate planning changes have largely avoided significant government and court intervention. However, since around 2018, this previous position appears to have permanently shifted with a range of measures targeted at ensuring baby boomers - and their chosen beneficiaries - pay their "fair share" of tax. Subsequent years have seen significant evolution in a number of areas, including superannuation, the treatment of tax equalisation provisions, trust loan accounts, trust vesting, testamentary trusts, and excepted trust income. Near the start of a new calendar year, it is timely to explore a number of the most critical developments in the tax and estate planning arena over the last 12 months.

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Miscellaneous 2022

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