Why does a dead man pay taxes,this person has been dead for three years and still pays tax, Why is that?
2007-07-18 02:27:52 · 5 answers · asked by Blond Bits 1 in Business & Finance ➔ Taxes ➔ Australia
His estate may also still be earning money eg when he was alive he could brought an investment property with a group of people for example and when he died instead of the others buying him out or selling the property, his share is transfered to his estate = still making money = has to pay his share of the tax.
2007-07-18 22:53:59 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The government always gets its money.
Serious, a dead man doesn't actually pay anything.. after all he is dead. However, in his last year(s) on this earth, he may have still made income that is subject to tax, which he never paid while he was alive.
The short version is that the taxes come out of his estate, that is the government gets that money before anyone can inhert it.
2007-07-18 02:33:01 · answer #2 · answered by dpilipis 4 · 0⤊ 0⤋
Don't know about Australia but in US the death tax is alive and well. Any estate that is left and the tax was not "pre-paid" is taxed incredibly high (55%!). Thus leaving people to sell estates instead of inheriting them.
2007-07-18 02:32:35 · answer #3 · answered by avengress 4 · 0⤊ 1⤋
The taxes are levied against his estate?
2007-07-18 02:31:51 · answer #4 · answered by PrivacyNowPlease! 7 · 2⤊ 0⤋
someone in the govt maybe messes with computerized records showing revenue income while it is actually a debit,,,,someones taking money off the top
2007-07-18 05:29:55 · answer #5 · answered by quackpotwatcher 5 · 0⤊ 3⤋