Deceased estates and the ATO

After a person has passed away, it is important to notify relevant government agencies, including the Australian Taxation Office (ATO). There is information on the ATO’s website to assist Executors and Administrators. For example, you should notify the ATO of the passing of your loved one by completing the form “Notification of a deceased person”. A final tax return may need to be filed for the deceased person; you may wish to contact their accountant to find out if a return is necessary. If a return is not necessary, then there is a form to let the ATO know of this. 

Sometimes it is a requirement to lodge a tax return for the deceased estate if the estate is receiving income. This is usually for the period from date of death to the distribution of the estate and, depending on the length of time to administer the estate, could cover one or more tax years. It is a good idea to obtain advice and assistance from an accountant to ensure any tax obligations have been met before distributing monies to beneficiaries.