WGC Business Advisors Pty Ltd (WGC) can assist Clients with what an Executor needs to do regarding the Tax Affairs of a deceased person, including the Capital Gains Tax (CGT) consequences of distributing assets and the tax implications of Superannuation and other payments received by the Deceased Estate.
WGC can assist Executors and their Lawyers with the wind up of the Tax Affairs of the Deceased and their Estate. This includes notifying the ATO of the death, lodging Tax Returns for the individual to date of death, Trust Tax Returns for the Estate during administration and the preparation of Financial Statements to be provided to the Beneficiaries.
WGC can also assist the deceased person’s Legal Personal Representative (LPR) or a Beneficiary of a Deceased Estate regarding the special Capital Gains Tax (CGT) rules which apply to the sale or transfer of any CGT Assets.
Furthermore, WGC can assist with any Death Benefit Termination Payments. The Death benefit termination payments are payments received on the death of another person from that Person’s Employer. The tax payable on this payment will depend on a number of factors.
WGC is experienced in being appointed as an Executor or Administrator of a Deceased Estate, where impartial judgement is required to administer the estate which is most common where there is a dispute between the LPR and the beneficiaries.