The work required of an executor of a deceased estate is continually increasing in line with the increased complexities of our tax system. It is important that the executor and their advisers are aware of the tax obligations, including PCG 2018/4, to limit their risk of exposure to liability. This session will help you understand your obligations, including:

• The tax liabilities an executor is responsible for
• What if the ATO issues an amended assessment and the estate has been wound up?
• What does the ATO consider to be a smaller and less complex estate with concessional treatment regarding executor liability?
• Action to take if the executor uncovers assets of the deceased that may have derived unreported income to the ATO
• How far do obligations go back for income tax returns not lodged by the deceased?
• Commissioner’s power to recover under TAA 1953 Schedule 1 Subdiv. 260-E
• Accessing relevant information from the ATO including the deceased estate data package