Tax Returns 

As executor you will be responsible for obtaining all necessary income tax assessments and getting them paid from the estate money. 

  • Generally, you will be required to do a tax return:

    • for the period from 1 July to the date of death;

    • then another return from the date of death until the next 30 June; and

    • then finally a tax return from 30 June until the estate stops earning income.

  • You will also be responsible for preparation and lodgement of returns outstanding prior to the date of death.

  • Of course, you are entitled to engage an accountant to do this work. Usually, executors will engage the accountant that the deceased used during their lifetime because they have useful records from previous returns.

In any case, it is strongly recommended that an executor obtain a statement from the estate’s accountant confirming that no more tax returns need to be lodged and no more tax payments have to be paid before the executor makes the final distribution to the beneficiaries.