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Death and taxes: Taxation issues and consequences that arise on the final frontier

Published on 01 Dec 12 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

Complex taxation issues can arise on and following the death of a taxpayer, in relation to diverse areas of revenue law, and because of inconsistency between the treatment at general law and taxation law of some of the key relationships that arise on the death of a taxpayer. Another factor is the proposed reform of Div 128 of the Income Tax Assessment Act 1997 (Cth).

This article discusses some of the income tax, CGT and superannuation issues, by reference to a case study. The article considers the issues that arise in relation to three distinct phases after a taxpayer’s death, namely, the period between death and administration of the deceased estate, the period during which the executor distributes assets to the beneficiaries, and the period following the asset being distributed to the beneficiary, including an analysis of the issues that arise on the establishment and maintenance of a testamentary trust.

Author profiles:

Author Photo - Dale Pinto CTA-Life
Prof Dale Pinto CTA-Life
is currently Acting Dean of the Curtin Law School and is a Professor of Taxation Law and Head of the Taxation Department of the Curtin Law School at Curtin University. He is Vice-President of the Divisional Council of CPA Australia (WA Division) and is also a Fellow of CPA Australia, a Fellow of the Australian Academy of Law and is a Chartered Tax Adviser and Life Member of the Tax Institute. Dale is the author/co-author of numerous books, refereed articles and national and international conference papers, and is on the editorial board of a number of peer-reviewed journals as well as being the Editor-in-Chief of several refereed journals. Dale is the Chair of the Tax Institute's National Education Quality Assurance Board and is a member of TEQSA's Expert Panel in Accounting and Taxation. Dale served as an inaugural member of the National Tax Practitioners Board and is a current member of the Board of Taxation's Advisory Panel and the ATO's Tax Technical Panel (Superannuation), as well as the Tax Institute's Technical Committees (Superannuation, Not-for-Profit Organisations and Large Business and International). Current at 05 February 2016 Click here to expand/collapse more articles by Dale PINTO.
 
Nicole Wilson-Rogers
Nicole is a Lecturer in Taxation Law and Taxation Principal Researcher, Applied Law and Policy Area of Research Excellence, School of Business Law and Taxation, Curtin University of Technology, Perth, Australia. Current at 01 September 2008 Click here to expand/collapse more articles by Nicole WILSON-ROGERS.

Annette Morgan CTA
Annette is a lecturer at Curtin University within the Taxation Area who prior to joining Curtin on a full time basis in early 2011 was employed as a Senior Tax Manager in a Perth based accounting firm. Annette has extensive experience in all areas of taxation gained from more than 25 years working within the taxation profession. Annette is a CTA, FCPA and holds a Masters in Taxation. Annette is also the Deputy chair of the Tax Institutes WA Professional Development committee. Current at 17 May 2016 Click here to expand/collapse more articles by Annette Morgan .
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