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New legislative instrument available for deceased estates and legal personal representatives

New legislative instrument available for deceased estates and legal personal representatives

By LIV Submissions



Following successful lobbying from the profession including the LIV, the Tax Commissioner has made an instrument entitled PAYG Withholding variation for foreign resident capital gains withholding payments — deceased estates and legal personal representatives (F2016L01396) which came into effect today, 7 September 2016.

The instrument varies to nil the amount that:

  • a deceased’s legal personal representative
  • beneficiaries of a deceased estate, or
  • surviving joint tenants that acquire a deceased joint tenant’s interest in a relevant asset would otherwise have to pay to the Commissioner pursuant to the foreign resident withholding tax payment regime which commenced 1 July 2016.

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