5 Steps to Nailing Taxes For A Lost Loved One: Your Executor’s Speed Guide

5 STEPS TO NAILING TAXES FOR A LOST LOVED ONE: YOUR EXECUTOR'S SPEED GUIDE

Facing the daunting task of handling a loved one's financial affairs? Funera Sydney is here to be your compass through the tax maze. Let’s fast-track through the key steps for Executors or Administrators:
1. ALERT THE ATO

Tell the Australian Tax Office (ATO) about your loved one's passing. Use the online ATO Notification form or grab the paper version. Then, swing by Australia Post with docs like the Will or Grant of Probate.
2. ASSET & DEBT INTEL

Get the lowdown on the estate's assets and debts. Think bank accounts, investments, property, loans - the works. This intel sets the stage for the tax tango.
3. CRACK THE TAX CODE

Understand the tax dance – no inheritance tax in Oz, but keep an eye on capital gains tax. Seek pro advice for the full tax picture, and loop in the beneficiaries on potential tax twists.
4. ESTATE ASSET SHUFFLE

Assets shuffling? Brace for tax impacts, depending on who's getting what. The ATO has the lowdown on income tax, company tax, and the capers of capital gains tax.
5. TAX RETURN TANGO

ATO greenlight received? Time to waltz with those tax forms. Grab the ATO's paper forms, slap a bold 'DECEASED ESTATE' on top, and jitterbug through the return.
GRAND FINALE

Settled debts? If the estate cashed in assets or made a tidy profit, it's showtime for the final estate tax return. Know your tax dues, pay up or stash the cash aside before sharing the spoils with beneficiaries.
IN A NUTSHELL, FUNERA SYDNEY’S GOT YOUR BACK THROUGH THE TAX HUSTLE. FOR MORE DEETS, DIAL UP THE ATO ON 13 28 61 OR VISIT THEIR SITE.
NEED A HELPING HAND? FUNERA SYDNEY IS JUST A CALL AWAY:

Sydney: (02) 9954 6655

Sydney: (02) 9954 6655

Newcastle: (02) 4955 1110

Wollongong: (02) 4243 8755
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