18 Death and Taxes Webcast Recording 3 CPD hrs
Prices NZD and ex GST - 17 April 2018 Recording
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Product Description
An individual’s death can trigger onerous and often unexpected income tax and GST liabilities. Not only is the individual’s family left grieving the loss of a loved one, but they can also be left with significant tax liabilities or other unexpected tax consequences. However, armed with the knowledge of how tax legislation deals with an individual’s death and the asset transfers that result from that death, it is possible to ensure that your client’s affairs are structured to minimise the tax consequences of death or at least ensure a plan is in place to deal with them.
This course is ideally for Accountants or Lawyers wishing to ensure the certainty of death does not result in uncertain and unexpected tax consequences for their clients.
This course will include practical case studies to highlight the taxation issues that can arise when an individual dies, including:
- How the Income Tax Act 2007 deals with the asset transfers that occur on death, including how and when the exceptions (rollover relief) to the general treatment apply.
- The GST issues that may arise on a registered person’s death.
- The tax implications of an individual’s death for a sole trader, partnership, look-through company, qualifying company, standard company, and trust.
- Planning tips around structuring client’s affairs so their death does not leave unwelcome tax issues for their family.