The Australian Taxation Office is changing its systems for dealing with deceased estates and has set up a dedicated unit to assist persons who are dealing with deceased estates.
Specialist personnel at the Australian Taxation Office will now assist with deceased estates.
In Australia there are currently no death, inheritance or estate taxes although it is always possible that this situation will change in the future.
There are however other tax consequences relating to deceased estates.
There is also a recent suggestion that a digital death certificate would make the process of deceased estates more efficient. However, any digital death certificate is unlikely to be developed prior to 2025.
Australian Bureau of Statistics shows that 45 percent of Australians die without a will. From the time someone dies, it usually takes about three years for loves ones to sort out their legal affairs.
This time can be significantly reduced with sound legal advice.
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