Tuesday 23 Oct 2018
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Latest Accounting News
Hot Issues
$20m boost for SME clients looking to exporting
Work-Related Expenses
ATO updates crypto guidance
ATO zones in on hundreds of newly created reserves
Senate passes $20,000 instant asset write-off extension
Victorian Vacant Property Tax
Director Penalty Notices
ATO set to pounce on undisclosed income streams
In case you missed it – The company tax Bill that did pass Parliament.
GST spotlight headed to smaller end of town
Superannuation Amnesty – Maybe! Maybe Not!
ATO drills in car-sharing focus this tax time
What is Bankruptcy?
Update of Australia's vital statistics
ATO speaks on risk factors, surveillance triggers for FY19
ATO’s corporate residency guidance cops backlash
ATO dispels top tax time myths to clients as clampdown rolls out
Tools for budgeting, cash flow, Super and more ….
Guidance for SMSFs on transfer balance reporting
ATO issues alert on super, tax scams
Salary sacrifice integrity
Understanding the evolution of blockchain and cryptocurrencies
Update to Australia's vital statistics
Tax Time Checklists- Individual, Company, Trust, Partnership and Super Funds
SMSFs - Our 'hardest' jobs
Articles archive
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Quarter 1 of 2009
Articles
Reduction to Minimum Pension Drawdowns for 2008/09
Government Stimulus Package
Working Australian Tax Bonus ($300 - $900 per individual)
Working Bonus – More Detail
Single Income Family Bonus ($900 per family)
Training and Learning Bonus ($950 per individual)
Farmer’s Hardship Bonus ($950 per household)
What does an Executor do?
Specific Roles of an Executor
Appointor – what does this mean?

Role of Trustees of Family Trusts

PAYG Instalments 20% Reduction
Granny Flats - are you entitled to Rent Assistance?
Interest Rates & Strategies
Specific Roles of an Executor

See also what does an Executor do?


Arrange the funeral in conjunction with close family (funeral directors need to be sure)

Prepare an inventory of the assets of the deceased

Identify the liabilities of the deceased

Apply for a Grant of Probate

Payment of the debts of the estate

Identify any tax savings opportunities – these can be substantial

Arrange for lodgement of tax return(s)

Protect the assets of the estate, and

Distribute the assets in accordance with the Will.

Generally speaking, the executors must act with due care and responsibility or they may be liable to the beneficiaries of the estate.

An executor can also be personally liable if:-

a)      They distribute the estate prior to allowing for any challenges to the will, or

b)      They distribute the estate other than in accordance with the Will, although this can be done with consent.

 

 

 

 



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