What to declare for tax returns

Key requirements

Estate income begins from the day after death and can include rent, business profits and other revenue receipts during administration. Trust income can arise under private settlements, wills or intestacy. Joint tenancy and tenancy-in-common produce different rental reporting positions: surviving joint owners generally report their full post-death rent, while the deceased’s tenancy-in-common share belongs in the estate return. Similar ownership considerations apply to joint bank accounts. The administrator or trustee declares the relevant estate/trust income in Form T, with exemptions and beneficiary treatment separately considered.