Raymond Lim, Director, TEP Legal
Jennifer Maher, Special Counsel, Kliger Partners (Vic)
Caite Brewer, Callinan Chambers, Barrister and Angela Cornford-Scott, Director, Cornford-Scott Lawyers (Qld)
John Hockley, Barrister (WA)
Katrina Nitschke, Principal, WillsDirect (SA)
Maria Dwyer and Christine Schokman, Senior Associates, Ogilvie Jennings Lawyers (Tas)
Andrew Freer, Director and Erin Bedford, Associate, KJB Law (ACT) Andrew Freer, Director and Erin Bedford, Associate, KJB Law (ACT)
Overview
If the deceased was registered for GST and received input tax credits in the course of carrying on an enterprise for GST purposes, the legal personal representative should make allowances for any increasing adjustment under s 138-5 of the A New Tax System (Goods and Services Tax) Act 1999 as a result of cancellation of the deceased’s GST registration. However, the increasing adjustment does not apply if:
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cancellation of registration arises as a result of the deceased’s death and the legal personal representative is registered or required to be registered and continues, immediately after the cancellation, to carry on the enterprise that the deceased carried on before cancellation; or
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the cancellation arises as a result of the legal personal representative ceasing to carry on any enterprise, and one or more of the beneficiaries are registered or required to be registered and continue, immediately after the cancellation, to carry on the enterprise that the deceased had carried on.
Further, no adjustment arises if the last of the relevant adjustment periods has ended before cancellation of the deceased’s registration takes effect.
See General Principles.
See Responsibilities of the legal personal representative.
See GST increasing adjustment.
See Distribution to beneficiaries.