Chapter 44 - Beneficiaries of Deceased Estates Flashcards
1
Q
Who are executors appointed by?
A
The deceased in the will
2
Q
How are beneficiaries taxed?
A
They are taxed on income actually distributed by the executors during the admin period
3
Q
How are income payments to beneficiaries taxed?
A
The tax credit is 20% for non-savings income / interest
8.75% for dividends
4
Q
What is a form R185?
A
Payments & tax credits are certified by the executors on the form
5
Q
How are expenses treated?
A
They are deemed to have been paid out of dividend income
