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Recorded Webinars

Recorded Webinar: Deceased Estates: How Exempt is the Main Residence Exemption?

During a person’s lifetime, their main residence is exempt from CGT if certain conditions are satisfied. However, once the residence becomes an “inherited main residence”, the conditions for the exemption can have added complexities. This session explores the issues, including:
PRESENTED BY Craig Spink Principal - Spink Legal , Brisbane

Date/Time

About the Webinar

During a person’s lifetime, their main residence is exempt from CGT if certain conditions are satisfied. However, once the residence becomes an “inherited main residence”, the conditions for the exemption can have added complexities. This session explores the issues, including:

  • The conditions to be met for the main residence CGT exemption to apply in a deceased estate
  • How the rules apply to a main residence owned by the deceased with another party, either jointly or as tenants in common?
  • The ATO’s safe harbour provisions when time limits for the sale are not met (PCG 2019/5)
  • Dealing with situations where deceased moved from the solely owned residence prior to death (ie. nursing home, family member’s home), and:
    • the spouse remained in the family home, or
    • the residence became income producing
  • How to calculate a capital gain on a main residence if the exemption conditions are not met
  • Tax issues to consider if the executor:
    • subdivides the land the main residence is situated on prior to sale
    • demolishes the family home as part of the subdivision prior to the sale
  • How state and revenue taxes and duties can apply post death
  • Practical examples

Presented By

Craig Spink
Principal, Spink Legal Brisbane, QLD

Craig has been an estate and commercial lawyer for over 15 years including 6 years as Principal of Spink Legal. Craig’s practice focusses on estate planning, administration and litigation, Court proceedings including will interpretation actions, preparation of commercial agreements including shareholder agreements and business succession agreements for professional practices.

In addition to his role as Principal of Spink Legal, Craig is the Managing Director of Invaulta, a Brisbane based software company providing an online safe custody solution for lawyers and their clients.

Who Should Attend?

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.

CPD Information

Accountants can claim up to 1 CPD hour. Lawyers can claim up to 1 CPD unit/point – substantive law. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

WA lawyers – Please note that TEN is unable to verify your completion of recorded webinars to the Legal Practice Board of WA. TEN is an accredited provider.

While TEN takes all reasonable care to include accurate and up-to-date information regarding CPD category classifications and compliance obligations, information regarding CPD point allocation are provided as a guide only. Allocation of CPD points is subject to the CPD requirements of your jurisdiction, personal circumstances and professional requirements. You are solely responsible for determining whether a particular product is appropriate for your CPD requirements.

Enquiries/Assistance

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]

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