Covering the treatment
of equitable life and remainder estates under TR 2006/14, he will look at the
CGT consequences of surrender of life and remainder estates, of varying life
and remainder estates, and of assigning life and remainder estates, as well as
the main residence exemption.
“I’m hoping to provide some clarity around when tax
liabilities can arise, who is liable to pay it, and suggest some strategies for
avoiding or dealing with such liabilities. Practitioners who attend this
session should come away with a better understanding of how the Commissioner
applies CGT to life estates.
They should
also be better equipped to advise clients making wills who propose to leave
life interests, and beneficiaries of deceased estates who wish to cancel a life
interest.”
|
Michael Flynn QC, CTA (Life) |
Michael Flynn, QC CTA (Life), is a Barrister at Owen Dixon Chambers
West, specialising in taxation and was President of The Tax Institute in 2014.
He is the author, with Miranda Steward, of
Death
and Taxes, and with James Kessler, QC, of
Drafting Trusts and Will Trusts in Australia. He has appeared before
the Federal Court and the High Court in many cases on behalf of both taxpayers
and the Commissioner.
Michael has been a member of various committees of The
Tax Institute for over 20 years, including our Victorian State Council and
National Council. He lectures in the postgraduate program at Melbourne
University and is President of the Tax Bar Association.
The 2018 Death… and Taxes Symposium also features a session looking
at tax liabilities and just who is responsible for them, presented by Lyn Freshwater
(ATO), with David W Marks QC, CTA (Queensland Bar) providing commentary.
Other sessions look at common practical tax problems
advisers face in the administration of an estate, including income tax, CGT and
other relevant litigation, superannuation and death, and a keynote address from
David W Marks QC, CTA, on ethical issues facing advisers.
Find out more about the program
on our website, and join us
19–20 July 2018 on the Gold Coast.