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Extinguishment of tax attributes (eg losses) on death under Australia's income tax is anomalous and inequitable

By: Boccabella, Dale.
Series: Australian Tax Forum.Publisher: Sydney The Tax Institute 2013Edition: Vol 28(3) September 2013 p439-477.ISSN: 0812-695x.Subject(s): Capital losses | Taxation | Deceased estates | Beneficiaries | TaxOnline resources: Click here to access online Summary: Upon death, a taxpayers' tax attributes are extinguished and are not available to the deceased's estate or beneficiaries. Focusing upon tax losses, the author argues that the extinguishment rule is inequitable by comparing the tax treatment of deaths where tax losses are owned directly with those that are owned via an entity.
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Upon death, a taxpayers' tax attributes are extinguished and are not available to the deceased's estate or beneficiaries. Focusing upon tax losses, the author argues that the extinguishment rule is inequitable by comparing the tax treatment of deaths where tax losses are owned directly with those that are owned via an entity.

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