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Executors of deceased estates are required to finalise the tax affairs of the deceased person, including any outstanding tax returns.

The final personal tax return of the deceased person with their personal TFN is known as the ‘date of death return’ and covers the period from the previous 1 July to the date of death. It should include all assessable income derived by the deceased person and all the tax-deductible expenses incurred up to the date of death.

The general individual tax rates, with the full tax-free threshold, apply to the final tax return as well as the Medicare levy and Medicare levy surcharge. Any compulsory Higher Education Loan Program (HELP) or Student Financial Supplement Scheme (SFSS) repayments are also included, but the remaining accumulated HELP debt is cancelled.