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Snapshot

  • When advising clients during the estate planning and administration process, it is important to give careful consideration to the potential duty and tax issues associated with transferring property to a beneficiary.
  • An oversight when transferring dutiable property from a deceased estate can leave a beneficiary exposed to a significant duties notice.

Estate administration is often described as a minefield. This is especially true for transfers of dutiable property from a deceased estate where a misstep can leave a beneficiary exposed to a significant duties notice and a similar amount of disappointment. Careful consideration must be given to the potential duty and tax issues associated with transferring property to a beneficiary when advising clients during the estate planning and administration process. This article will focus on the duty concessions and consequences of deceased estate transfers in NSW.

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