Capital Acquisitions Tax

A

Angiestar

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my father died in January 2014, the house has been sold, the amount of will has been published in the newspaper, the tax office wrote to us in June 2015 saying we were liable to pay CAT before October 2015 .. No sign of money ... If we do not receive money before the deadline (although all the money is in the executors account ) is our tax liability carry over to October 2016.
 
"If we do not receive money before the deadline (although all the money is in the executors account ) is our tax liability carry over to October 2016."

No. And it would be a very foolish executor who did not realise that the CAT liability could rebound back on them if they don't get their finger out!

Have you brought this to their attention? Are there issues that have to be addressed before the money is released? Can the beneficiaries discharge the CAT liability from their own resources?

mf
 
Thank you mf1. The beneficiaries are being ignored by the executor ..none of the beneficiaries apart from one are in a position to pay CAT liability from there own resources. There are no outstanding issues it was a straight forward estate, sale of house and some savings .. But no sign of money and executor refusing to engage, I will ring tax office on Monday they may be able to exert some pressure
 
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