(FREE Online Seminar) How to Avoid Tax & Accounting Disasters for Estate & Trust of Deceased Person

Webinar Schedule:
Date: (Fri) 10 Jan 2025
​​​​​​​Time: 10am - 12:30pm

​​​​​​​Speakers: 
Chong Wee Soon (Director of Go TAX)
Mr. Chong Wee Soon is a member of Chartered Tax Institute of Malaysia (CTIM) and is a tax agent licensed under the Ministry of Finance Malaysia. He has over 20 years’ experience in corporate and personal tax compliance matters, advisory and consultancy. He is currently the Senior General Manager and Director of Go Tax Sdn Bhd. 

Esther Boey (Director of PLAS Management Services) 
​​​​​​​Ms Esther Boey is a member of the Institute of Chartered Accountants in England and Wales (ICAEW) and the Malaysian Institute of Accountants (MIA). She has 15 years of experience in audit and taxation

Suitable for
* Probate Lawyers
* Lawyers Specializing in Family or Estate Law
* Estate Planners
* Trust Advisors / Consultants
* Financial Planners
* Financial Advisors
* Wealth Managers
* Accountants and Tax Agents
* Individual Executors
* Individual Trustees
* Corporate Trustees
* Retail Trustees​​​​​​​

Proposed Webinar Content:

• Overview: Flowchart of Estate Administration 
• Common Disasters in Estate Accounting
• Common Disasters in Estate Taxation
• Case Study: Michael Jackson’s Will, Estate Accounting & Tax Disputes
• T.C. Memo. 2021-48 UNITED STATES TAX COURT
  ESTATE OF MICHAEL J. JACKSON, DECEASED & Ors v. COMMISSIONER OF INTERNAL REVENUE
• Question: Who is legally responsible for MJ’s tax issues ?
• Tax Responsibilities for Executor / Administrator & Trustee (Malaysia context)
• The Law: Duty to Render Accounts
• Dr. Chan Chin Cheung v. Chan Chak Cheung & Anor [2005] 2 CLJ 405 CA; [2005] 1 MLRA 186; [2005] 2 AMR 780
• Halsbury’s Laws of Malaysia, Vol. 5 at page 720 & 885
• Damayanti Kantilal Doshi & Ors v. Jigarlal Kantilal Doshi & Ors [1998] 4 CLJ 81 CA; [1998] 4 MLJ 268; [1998] 2 MLRA 177; [1998] 4 AMR 3904
• Halsbury’s 4th Edn Vol 17 at para 1551 under ‘Liability to Account’
• Section 2 & 62 of the Probate and Administration Act 1959
• Section 27(4) of the Trustee Act 1949

Proposed Case Studies

• Gan Chiew Heang and Ors v Universal Trustee (M) Bhd and Anor [2010] MLJU 1286, 10 CLJ 213
• Rachel Mei Ling Ong & Anor v Dato' Bruno Henry Almeida (As The Executor For The Estate Of Ong Soon Hoe, Deceased) [1998] 6 MLJ 258
• Datin Melati Bt Abdullah & Ors v Syed Hassan B Syed Salim (No 2) [1999] MLJU 420
• Ligar Fernandez v Eric Claude Cooke [2002] 5 MLJ 177
• Ong Bee Yam v Pengarah Hasil Dalam Negeri, Sarawak & Anor [2002] 3 MLJ 389
• Ramesh @ Muthu a/l Nallayan (as the executor of the estate of Nallayan a/l Ramasamy, deceased) Marappan a/l Muthusamy [2021] MLJU 1417
• Yvonne Wong Yee Woon v Wong Yee Mei @ Cynthia (as administrator for the estate of Wong Poi Fong @ Wong Swee Fong, deceased) & Anor [2022] 12 MLJ 309
• Accounting Responsibilities for Executor / Administrator & Trustee (Malaysia context)
• Question: Can tax authorities claim taxes on undeclared income or assets from the executor, trustee or beneficiaries personally ? 
• Deceased’s Tax Matters
  (1) Deceased’s Personal Income Tax
  (2) Estate Income Tax
  (3) Testamentary Trust Income Tax 

Proposed Case Studies: 

• Director General of Inland Revenue v Ooi Guan Hoe [1986] 2 MLJ 385
• Teng Chua Huat v Government of Malaysia [1998] 7 MLJ 315
• Ketua Pengarah Hasil Dalam Negeri v Tan Sri Kishu T Jethanand [1998] 5 MLJ 781
• Ong Bee Yam v Pengarah Hasil Dalam Negeri, Sarawak & Anor [2002] 3 MLJ 389
• Kerajaan Malaysia v Yong Siew Choon [2006] 1 MLJ 1
• MJ’s case study: Tax & Accounting of MJ’s Estate & Trust. Dispute with Tax Authorities in Valuation Method (Different Expert Opinion)
• Estate Accounting Overview: Asset, Liabilities & Valuation
• MJ’s case study: Mother objects Executor’s decision to sell certain assets
• Overview of Estate Claimants
• Risks due to Estate Accounting & Estate Tax Disaster
• Executors/Administrators and Trustee 
• Estate/Trust & Beneficiaries 
• Strategies to Mitigate Risks for Executor/Administrator or Trustee
• MJ’s Estate starts to make money. Question: Accounting & Tax file can’t close yet right ?

 Proposed Law to discuss

• Act 53 Income Tax Act 1967
• Act 97 Probate and Administration Act 1959
• Act 169 Real Property Gains Tax Act 1976
• Act 208 Trustees Act 1949
• Trustee (Amendment) Bill 2024
• Act 346 Wills Act 1959
• Act 862 -FINANCE ACT 2024
• IRB Explanatory Notes TP2020 Income Tax of Deceased Person Estate
• IRB Public Ruling No 9/2023 The Deceased Part 1 Introduction
  Rules of Court 2012