Registered business trust IRASDesignated unit trust scheme SingaporeIRAS Form TTaxation of trust IRASForm UT IRASUnit trust IRASIRAS ABSD (Trust)Estate Under Administration or Held in Trust - IRAS
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When an estate is no longer under administration and there are some more investments and assets left in the estate, these will be held in trust ... Home Taxes OtherTaxes GuideforAdministratorsorTrustees EstateUnderAdministrationorHeldinTrust EstateUnderAdministrationorHeldinTrust NotifyingBeneficiariestoDeclareShareofIncome DistributingIncometoNon-ResidentBeneficiaries BeneficiariesarenotentitledtoestateincomewhenanestateisunderadministrationunlessspecificallystatedintheWill. Beneficiariesofanestateheldintrustmaybeentitledtotheincomeofnon-discretionary/fixedtrusts. Onthispage: EstateUnderAdministration DeterminingthePeriodanEstateisunderAdministration ForDeathsBefore15Feb2008 ForDeathsOnorAfter15Feb2008 EstateHeldinTrust RelatedContent EstateUnderAdministrationThefollowingarefeaturesofan'estateunderadministration':Thedeceasedperson'sinvestmentsandassets(forminghisestate)isadministeredbyapersonalrepresentative.Estateincomeistheincomegeneratedbythedeceased'sassets.Whenanestateisunderadministration,thebeneficiariesare notentitledtotheestateincome.Theexceptioniswhenthedeceasedhadspecificallystatedinhiswillthatcertainassetsbegiventocertainbeneficiariesimmediatelyuponhisdeath.Ifthepersonalrepresentativedistributestheincomeduringthisperiod,itisestateincomeinthehandsofthebeneficiaries. DeterminingthePeriodanEstateisunderAdministration Thefactsofthecasewilldeterminewhentheadministrationperiodofanestatehasended. ForDeathsBefore15Feb2008Theperiodadministrationisonedayafterthedateofdeathofthedeceasedto31DecoftheyearinwhichclearanceisobtainedfromtheCommissionerofEstateDuties.Forexample,ifthedateofdeathis30Apr2007andtheProbateisissuedon31Jul2015,theperiodofadministrationwillbefrom1May2007to31Dec2015. ForDeathsOnorAfter15Feb2008Fordeathsonorafter15Feb2008,theperiodofadministrationisonedayafterthedateofdeathofthedeceasedto31DecoftheyearinwhichtheCourtsissuetheGrantofRepresentation.Forexample,ifthedateofdeathis15Aug2017andGrantofRepresentationwasissuedon30Nov2018,theperiodofadministrationwillbefrom16Aug2017to31Dec2018. EstateHeldinTrustThefollowingarefeaturesofan'estateheldintrust':Whenanestateisnolongerunderadministrationandtherearesomemoreinvestmentsandassetsleftintheestate,thesewillbeheldintrustforthebeneficiaries.Atrustisadministeredbya'trustee'.Theincomederivedfromassetsbelongingtothetrustistrustincome.Beneficiariesmaybeentitledtotheincomeofallnon-discretionary/fixedtrusts.Iftheincomeofdiscretionarytrustsisdistributed,itistrustincomeinthehandsofthebeneficiaries. Pages CalculatingEstateIncomeTax Pages CalculatingTrustIncomeTax
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