Deceased Estates
Our team brings extensive expertise in managing the complex taxation and compliance responsibilities associated with Deceased Estates.
We work seamlessly with Executors, Court Appointed Administrators and their legal representatives to ensure every aspect of the estate’s tax obligations is handled with precision. This includes the preparation and lodgement of all required returns, accurate declaration of income, application of deductions, and the identification, quantification and reporting of capital gains tax events.
Deceased Estates often involve intricate tax considerations and strict compliance requirements. We provide clear, strategic advice and practical support in areas such as:
- Lodging the Final Tax Return for the Deceased and any outstanding prior year returns
- Preparing and lodging Deceased Estate and Testamentary Trust Tax Returns as required
- Preparing Financial Accounts for Deceased Estates or Testamentary Trusts where necessary
- Providing clear, accurate beneficiary statements to ensure distributions are correctly included in beneficiaries’ personal returns
- Delivering Capital Gains Tax advice, including guidance on asset treatment and applicable time limits
- Liaising with the ATO to confirm the deceased’s outstanding tax position prior to finalising the estate
- Assisting with ongoing compliance or wind-up matters for private companies, trusts and SMSFs forming part of the deceased group
- Preparing private binding ruling applications, for example, seeking the Commissioner’s discretion to extend the two-year period for disposal of a principal place of residence
- Managing voluntary disclosures, including complex ATO liaison to obtain tax histories and reach timely, appropriate outcomes for estate finalisation
- Establishing and managing Testamentary Charitable Trusts, including compliance with Australian Charities and Not-for-profits Commission (ACNC) requirements
- Preparation and lodgement of a Foreign Resident Capital Gains Withholding certificate for a foreign Executor, where the Deceased’s main residence has been sold.
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