What are the tax implications when a Division 7A loan or UPE is left outstanding on death? This session covers the potential issues that may arise and how these can be managed or mitigated, including the following:
The potential application of the commercial debt forgiveness rules
Assignment of a UPE – does the UPE have a cost base and what are the CGT consequences?
Will the Division 128-15 rollover apply to a UPE transferred to an individual or testamentary trust post death?
When will the section 118-20 anti-overlap rule apply?
Practical tips for managing UPEs and loans as part of the estate planning process
Impact of loans and UPEs in family provision claims
Patrick Ellwood is a lawyer with over a decade of experience assisting high net worth individuals and family business owners.
He is the founder of Clover Law, an Australian law firm specialising in tax structuring, estate planning, superannuation and asset protection.
He is a regular speaker for a range of private and professional bodies and is a published author of a number of legal textbooks.
This webinar is suitable for accountants and lawyers advising in taxation matters – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.
If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]