Tax and estate planning in 2021: Where are we at?
Source: Taxation In Australia Journal Article
Published Date: 1 Feb 2021
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. Since 2018, this historical position appears to have changed with a range of announcements, possibly permanently. Subsequent years have seen evolution in a number of areas, including trust vesting, trust splitting, testamentary trusts, excepted trust income and family trusts. One year on, however, the question needs to be asked: what has been the impact? With the post-baby boomer intergenerational wealth transfer wave gathering pace, the ongoing developments create significant risk for advisers and their customers in the tax and estate planning arena.
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Details
- Published By: Matthew Burgess CTA
- Published On:1 Feb 2021
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