Australia's #1 for Law

Join 11,000+ Australians. Ask a question, respond to a question and better understand the law today!

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.
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
  3. winston wolf

    winston wolf Well-Known Member

    Joined:
    21 April 2014
    Messages:
    360
    Likes Received:
    104
    The estate is making the money therefor any tax is payable by the estate prior to distribution.
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...

Share This Page

Loading...