Publications and Documents:

Publications and Documents


Adviser Tips:

Adviser Tips


Adviser Updates:

Adviser Updates


Individual Updates (Most Recent First):

Prioritising Needs

Simultaneous Deaths

Mutual Will Strategies

Joe Hockey on Trusts

Tax Treatment of Self-Ownership Agreements

Vested and Indefeasible Interest

Gross or Net Value?

Henry Report

Deemed Dividends

Super Buy/Sell Cover

Bamford in the High Court

Trauma Cover in Super

Origins of Self-Ownership


Methods of Aggregation

Valuing the Business

Duty to Give Tax Advice

Equity vs Loan Capital

Horses for Courses

Commercial Debt Forgiveness

Choice of Trustee

Simplifying the Valuation Issue

Hybrid Succession Strategy

Hedge and Wedge Strategy

Sole Proprietors and Families

Free Teleconference

Simple or Complete Succession?

Contemporaneous Agreement

Geared Premium Funding

Super Fund Ownership

Business Family Will








Self-Ownership without a Contemporaneous Buy/Sell Agreement: The Effect on "Original Beneficial Ownership"


The concept of "original beneficial ownership" is fundamental to the CGT exemption for Death Benefits.

Most Advisers assume that the exemption will be available for Buy/Sell Cover if the Life Insured is the Policy Owner, whether or not the parties sign a Buy/Sell Agreement.

As a result, some insurance companies estimate that 90% of Buy/Sell Cover is not backed up by a Buy/Sell Agreement.

The High Court has analysed the concept of "beneficial ownership" in a number of land tax cases in recent years.

While these cases are not immediately relevant to the taxation of Insurance Policies, they do contain views that could raise doubts about whether the Life Insured is the "beneficial owner" of the Policy where a Buy/Sell Agreement has not been signed.

Please click here to read about the potential adverse CGT implications of not having a contemporaneous Buy/Sell Agreement.


Copyright: Ian Gray Solicitor



Adviser Tip

The One Page Strategy is designed to help you simplify Succession Planning.

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