Recorded Webinar: Non-Resident Beneficiaries: A Tax Bomb in the Estate Plan

There are significant tax issues which may arise where there are non-resident beneficiaries of a deceased estate. A failure to tread carefully could lead to a significant tax bill. This session looks at the key tax problems to be aware of with non-resident beneficiaries:

• Taxation of a deceased estate with non-resident beneficiaries

• Testamentary trusts and non-resident beneficiaries

• What if the estate or a testamentary trust ceases to be an Australian resident?

• Transferring CGT assets to non-resident beneficiaries – when will this trigger CGT event K3?

• CGT event K3 and CGT withholding tax

• Strategies to avoid CGT event K3:

  • the cash option

  • using testamentary trusts

• Transferring a main residence to a non-resident

• Assets held in a non-resident’s name – tax issues:

  • CGT discount

  • main residence exemption

  • State taxes

• Non-resident beneficiaries and State taxes – how to minimise adverse consequences

• Dealing with dividends and non-resident beneficiaries:

  • withholding tax

  • using fully franked dividends to avoid withholding tax