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  Estate planning Succession 2018

Issues with life estates

Source: QLD

Published Date: 19 Jul 2018

 

This presentation covers:

  • life estate " an estate in land that endures until the death of the person upon whom it is conferred or some specified person (purautre vie)
  • most often created by will
  • a common trigger for CGT liability is surrender of a life estate
  • application of CGT to life estates before TR 2006/14 was very uncertain
  • how CGT rules apply generally to deceased estates
  • TR 2006/14 and PS LA 2003/12
  • examples illustrating application of TR 2006/14
  • surrender of interest in main residence
  • application of rules to more complex estates.

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Author(s)

Individual Session

Issues with life estates

Author(s): Michael Flynn KC, CTA-Life
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Estate planning Succession 2018

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