LawAnswers.com.au - Australia's #1 Legal Community

LawAnswers.com.au is a community of 10,000+ Australians, just like you, helping each other.
Ask a question, respond to a question and better understand the law today!
Join us, it only takes a minute:

Tax on Estate - Do Beneficiaries Pay To ATO?

Discussion in 'Wills and Estate Planning Law Forum' started by Jenny B, 22 May 2014.

  1. Jenny B

    Jenny B Member

    Joined:
    22 May 2014
    Messages:
    1
    Likes Received:
    0
    Do beneficiaries pay tax on interest earned by an estate while waiting for settlement? If so, when and how is it applied? By the ATO?
     
  2. haiqu

    haiqu Well-Known Member

    Joined:
    12 June 2014
    Messages:
    18
    Likes Received:
    4
    Any income is taxable, and this includes interest on an estate. When and how that is applied is probably best answered by the ATO.
     
  3. winston wolf

    winston wolf Well-Known Member

    Joined:
    21 April 2014
    Messages:
    347
    Likes Received:
    101
    The estate is making the money therefor any tax is payable by the estate prior to distribution.
     

Share This Page

Loading...