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2018: The biggest year in estate planning in a generation

Published on 01 Dec 18 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

In light of ongoing changes to the taxation regime and the expanding wealth of Australia’s ageing population, there has for many years been a growing need for estate planning to utilise appropriate structuring. Estate planning related areas have largely been outliers from radical simultaneous rule overhauls — indeed, the framework of the specifi c relevant laws have stayed largely unchanged for over 30 years. However, 2018 will likely be seen as an exception to this position, at least in recent years. Indeed, arguably, 2018 has seen more changes in key estate planning areas in a single year than each of the previous 30 years combined. With the post-baby boomer intergenerational wealth transfer wave gathering pace, it is argued that the 2018 changes mean that it is critical for tax and estate planning advisers to fully understand the impact of the changes and invest to monitor their ongoing impact.

Author profile

Matthew Burgess CTA
Photo of author, Matthew BURGESS Matthew co-founded specialist firm View Legal in 2014, having been a lawyer and partner of one of Australia’s leading independent law firms for over 17 years. Matthew’s passion is helping clients successfully achieve their goals. Matthew specialises in tax, and estate and succession planning, providing strategic advice to business owners and high net worth individuals. He has been recognised in the Best Lawyers list since 2014 in relation to trusts and estates and either personally or as part of View Legal in Doyles since 2015 in relation to taxation, and since 2017 in relation to wills, estates and succession planning. In part leveraging off the skills he has developed working in the SME market space, Matthew has been the catalyst for a number of innovative legal solutions for advisers and their clients, including establishing Australia’s first virtual law firm. - Current at 13 August 2018
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