The complexity of estate administration is compounded where a business is involved. From sole traders to partnerships, to sole director/shareholder companies, an authorised legal personal representative (LPR) may find they have to step in and operate a business temporarily during the estate administration.
This session reviews the tax issues that arise for the LPR when the deceased was involved in a business including:
- Tax registrations
- Practicalities of running a business including employee issues
- Trading stock issues for sole traders
- Partnerships – continuity and elections
- Indirect tax issues in administering an estate; and
- Availability of small business CGT concessions.