intend to bring back to Australia my inherit money from my late mother of Aud $600K. Do I need to pay tax.
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Hi @Thumper
My heartfelt condolences to hear of your loss 😔.
You won’t need to worry about tax on your inheritance, there is none.
If the funds start to earn accessible income like bank interest, the interest only would be taxable investment income.
Our community site has an article Tax on gifts and inheritances if you’d like to check it out for more info.
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Hi @Thumper
My heartfelt condolences to hear of your loss 😔.
You won’t need to worry about tax on your inheritance, there is none.
If the funds start to earn accessible income like bank interest, the interest only would be taxable investment income.
Our community site has an article Tax on gifts and inheritances if you’d like to check it out for more info.
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