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Death and taxes paper

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Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

Published on 14 Nov 12 by VICTORIAN DIVISION, THE TAX INSTITUTE

The current significant level of inter-generational wealth transfers makes Death & Taxes a highly relevant topic. In this paper,  Michael Flynn, CTA will discuss issues that may arise in administering deceased estates. Michael addresses the following topics:

  • when are beneficiaries presently entitled to estate income?
  • Commissioner of Taxation recovering estate tax liabilities personally from executors (Barkworth Olives Management)
  • tax consequences of realising assets
  • varying the terms of a will after death
  • CGT event K3 and distributing assets to tax exempt and nonresident beneficiaries.

Author profile

Michael Flynn QC CTA-Life
Photo of author, Michael FLYNN Michael is a Barrister at Owen Dixon Chambers West, specialising in taxation, and was National President of The Tax Institute in 2014. He is the author, with James Kessler, QC, of Drafting Trusts and Will Trusts in Australia (2nd edition, 2017). Michael has appeared in the Administrative Appeals Tribunal, the Federal Court and the High Court in taxation cases. Michael has been a member of various committees of The Tax Institute for over 20 years. - Current at 02 December 2019
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Individual sessions

Death and taxes

Author(s):  Michael FLYNN

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