I have been named as beneficiary in my brother in law's will and there is a death insurance of around 12000 euros. Will I have to include it on my tax return and will I be charged tax on this in Australia?
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Probably not taxable - as long as there was no income component in the amount you receive.
Sounds like the estate received the insurance death benefit, and you are just receiving a distribution from the estate.
You would need to find out more from the executor.
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Probably not taxable - as long as there was no income component in the amount you receive.
Sounds like the estate received the insurance death benefit, and you are just receiving a distribution from the estate.
You would need to find out more from the executor.
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