If there are shares in the Estate you are administering

Estate taxation can be complex, especially when charities are residuary beneficiaries, as special tax exemptions apply. Unfortunately, Bequest Assist often sees tax paid unnecessarily when these exemptions are missed or applied too late. Incorrectly handled Capital Gains Tax (CGT) is one of the largest losses we see for charities during the estate administration process.

When estate administrators take the tax-advantaged status of charities into account in handling assets, all beneficiaries can benefit.

If there are shares or other assets which may give rise to a CGT liability, please notify Bequest Assist as soon as possible at info@bequestassist.com.au. This will allow us to work collaboratively to help ensure that charitable exemptions are applied appropriately, and that you have the preferences of that specific charity as to whether assets are transferred or sold.

Please note that not all accountants are familiar with the tax rules applicable to charitable beneficiaries. While Bequest Assist do not provide financial advice, the following deceased estate taxation specialists are known to have experience in this area:

Jamie Towers – Forvis Mazars Australia
jamie.towers@forvismazars.com
(07) 3218 3900

Ian Raspin – BNR Partners
iraspin@bnrpartners.com.au
(03) 9781 6800

Melanie Costin – T&E Accounting
mcostin@trustandestate.com.au
1300 082 633

If you could use assistance identifying and collecting all shares, dividends and other financial assets into the Estate, Bequest Assist have worked with a firm who is specialised in this area:

Jon Moses – JM Investments
jon@jminvest.com.au
(07) 5641 1700

These are suggestions only. You are, of course, welcome to choose your own adviser.