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Issues with life estates paper
Published on 19 Jul 18 by QUEENSLAND DIVISION, THE TAX INSTITUTE
This paper covers:
- life estate – an estate in land that endures until the death of the person upon whom it is conferred or some specified person (“purautre vie”)
- most often created by will
- a common trigger for CGT liability is surrender of a life estate
- application of CGT to life estates before TR 2006/14 was very uncertain
- how CGT rules apply generally to deceased estates
- TR 2006/14 and PS LA 2003/12
- examples illustrating application of TR 2006/14
- surrender of interest in main residence
- application of rules to more complex estates.
Author profile
Michael Flynn QC CTA-Life

This was presented at 2018 Death … and Taxes Symposium .
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