Divorce and death impose on professional advisers the unenviable task of having to deal with, report on and manage historical tax affairs. With the inherent complexity of both Div 7A and Sch 2F, compliance issues inevitably have arisen, arise or need to be dealt with when finalising family law proceedings or administering an estate. In this session, we will cover:
- How to deal with historical Div 7A issues arising during estate administration or family law proceedings (including applications under s 109RB)
- Why s 109J doesn’t apply where the Family Court orders a private company to make a payment (including ATO ID 2004/462 and TR 2014/5)
- Using s 109ZC to provide relief for historical liabilities identified during family law proceedings and estate administration
- Dealing with the frankability of deemed dividends following divorce and death (including under ss 109RB(2) and 109RC); and
- What to do when you have distributions outside the family group and liabilities for FTDT.