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Income derived after the date of death, and any deductible expenses incurred after the date of death, are included in the deceased estate's trust return. Tax returns will need to be lodged in future years until the estate is fully administered and no longer deriving income.

For the first three tax returns, deceased estate income — to which no beneficiary is presently entitled — is taxed at the general individual rates, with the benefit of the full tax-free threshold. No Medicare levy is payable. In the fourth and subsequent years, the concessional period is not extended and special progressive trust tax rates will then apply, as set out in table 1.6.

TABLE 1.6: deceased estate tax rates (2022–23)

Source: © Australian Taxation Office for the Commonwealth of Australia.

Deceased estate taxable income (no present entitlement)	Tax rates
$0–$416	Nil
$417–$670	50% of the excess over $416
$671–$45 000	$127.30 + 19% of the excess over $670
$45 001–$120 000	$8550 + 32.5% of the excess over $45 000
$120 001–$180 000	$32 925 + 37% of the excess over $120 000
$180 001 and over	$55 125 + 45% of the excess over $180 000