There are a variety of taxes impacting on estate planning in Australia. Among those that impact on the formulating of an estate plan are:
Capital gains tax, with 3 key concessions that are often important from an estate planning perspective, ie the main residence exemption, the small business CGT concessions and the rollover concessions for deceased estates;
Land transfer duty, so often an issue if real estate needs to be sold to fund bequests;
GST, with separate rules relating to different types of assets;
Land tax on non-primary production land;
Federal and state taxes on vacant residential land; and
Income tax on income retained in a deceased estate.
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