Making a will is something that is often overlooked. And when a will is made, tax considerations are often not taken into account.As a result, the death of a taxpayer can have wide-reaching and unexpected taxation consequences. The consequences can be even wider if the deceased was also a partner in a partnership.

Topics covered in this webinar will include:

• Income tax consequences of asset transfers on the death of an individual, including:
  • When is a market value disposal of assets deemed to occur?
  • How do the tax rules apply for different asset classes in an estate?
  • When is “rollover relief” available?
  • What if the person was a partner in a partnership?
• GST considerations on the death of an individual taxpayer and a partner.

The webinar will be a mix of the technical rules that apply and practical examples to highlight the interplay of some of the relevant tax rules that need to be worked through to assess the tax outcomes for all concerned, including not only the rules applying to the death of an individual but implications and considerations if the deceased was also a partner in a partnership.

This course will be suited to:

• Accountants and lawyers who act for partners or partnerships and advise on partnership issues and agreements.
• Accountants, advisors and lawyers who advise on wills and who manage or administer estates.