Executor’s Duties Concerning Taxation

Finalizing the tax affairs

The executor of a deceased estate, one need to finalize tax issues and provide the information to benefiters of the deceased estate.

Duties of an Executor1. Lodging a final income tax return, & any

outstanding prior-year income tax returns, for the deceased person. Not all residents are required to lodge income tax returns in which event a non-lodgment advice should be lodged with the Australian Taxation Office (ATO).

Duties of an Executor Contd…2. Ensure that any tax liabilities are paid or tax

refunds received by the deceased estate

Duties of an Executor Contd…3. Lodging any trust tax returns for the deceased

estate

Duties of an Executor Contd…4. Providing beneficiaries with the information

they need to include trust distributions in their personal income tax returns. In certain circumstances the Executor may need to pay tax on their behalf.

Tax-Related Liabilities

Any tax-related liabilities which arise from your role as the Executor is separate from the Executor’s own personal tax liabilities.

The expert lawyers at Robson Hayes Legal have many years of experience with helping Australians and non-residents obtain a Grant of Probate, Letters of Administration and assisting with inheritance disputes.

Probate WA contact details:(08) 9322 2256http://probatewa.lawyer/Suite 2, 19-21 Outram Street, West Perth WA 6005Email at: contactus@probatewa.lawyerPerth’s leading probate and inheritance dispute lawyers