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Jnachew(I'm new)I'm new
23 Apr 2026

Hi,


i have a few questions here:

  1. do i have to pay tax if i receive a trust payout from a trust which only involve cash and generate interest set up by my father in Malaysia upon his demise? I'm the beneficiary of the trust if he pass away.
  2. my father purchased a few insurance policies in Malaysia for me whereby I'm the life assured and policy owner and he is the payor (he purchased it as purpose of gift), do i have to pay tax if i transfer the money from the insurance policies to Australia?
  3. my father have some investment shares and gold account in Malaysia and he transfer the ownership of the accounts to me before he pass away, do i have to pay tax if the accounts are still active and generating or this is consider as gift?
  4. do i have to pay tax if i inherit some physical gold and bring them back to Australia or if i sell it off and transfer the money to Malaysia?

Please advise. Thanks.

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Liked by rainaroy26
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All replies

Taxduck(Taxicorn)Taxicorn
23 Apr 2026

An inheritance is generally tax free. Gifts are generally tax free.

If income is generated from that gift then that income would normally be subject to tax.

Australian tax residents need to report their worldwide income on their tax return.

Australian resident for tax purposes | Australian Taxation Office

If you are an Australian tax resident as well as a temporary resident then foreign income generally isn't taxed in Australia.

Assets you inherit, become the owner of, then dispose of, will be subject to capital gains.

How CGT applies to inherited assets | Australian Taxation Office

For income received specific to your situation you should seek the advice of a tax professional

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