Prior to a solicitor or any other person accepting the role of executor of a deceased estate it is important for that individual to recognise that any commission received for the provision of executorial services will invariably be fully assessable for income tax as well as be potentially subject to Goods and Services Tax (GST).

– Voluntary disclosures

An LPR seeking to maximise the value of a deceased person’s estate should seek tax advice if their proposal involves the subdivision and/or demolition of the deceased’s dwelling.

Deceased estates, trading stock and ‘notional’ trading stock (standing or growing crop stools).

Whoever subscribes to the theory about the certainty of death and tax, probably hasn’t stood in the shoes of a legal personal representative (LPR) attempting to administer the estate of a deceased person in a modern taxation system. Remember, that the LPR is personally exposed to liability for income tax in relation to the affairs of the deceased and of their estate.

…yes, relevant fees incurred by a legal personal representative (LPR) that relate to the deceased’s tax affairs (rather than those of their estate), are deductible in the deceased’s date of death income tax return.