If you are an executor or administrator of an estate … do not forget the ATO

If you are an executor or administrator of an estate, you have a duty to act in the best interests of the estate.

You also have an obligation to ensure any personal tax returns of the deceased and the estate are completed and lodged with the ATO.  Failure to do this will cause delay in the administration of the estate and potential personal liability to you, if the estate is distributed without the estate’s taxation obligations being met.

To ensure there is no delay to the administration of the estate, the executor or administrator, should notify the ATO of the deceased’s passing.  The easiest way to do this is by completing the ATO’s Notification of a Deceased Person form, which may be completed online – https://www.ato.gov.au/Forms/Notification-of-a-deceased-person/

Completing this form should ensure the ATO corresponds with you or your tax agent about the estate’s taxation obligations, so you are best placed to ensure the estate meets those obligations, and you act in the best interests of the estate.