Recorded Webinar: The Tax Aspects of the Executor's Role (and the Impatient Beneficiary)

Acting as an executor of a deceased estate is not without its challenges. Time limits, complex tax matters to address and the various personalities benefitting from the legacy can significantly increase the stress levels for most. This session focuses on the tax related aspects of the executor role, and provides an understanding of why the process requires a certain amount of time and patience, including:

• The time limits an executor should be mindful of
• How to access a deceased person’s tax and super data
• The tax obligations of executors and beneficiaries during the various stages of administration of a deceased estate (IT 2622)
• What are the executor obligations if the deceased:
  • operated a business as a sole trader?
  • was a partner in a business?
• Action to take if further assets are identified that haven’t had their tax implications disclosed in previous income tax returns
• When can the executor be personally liable for outstanding tax liabilities of the deceased or their estate? (PCG 2018/4)
• A checklist to cover ATO interaction, notifications and lodgements required
• Practical examples of providing for tax liabilities, including:
  • when a beneficiary is a non-resident
  • when a super death benefit is received