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German testament - Pay tax in Australia

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Hi, 

My relatives in Germany are getting their testament organised and I was wondering if I would have to pay tax here in Australia when recieving the money (one day in the future) 

Thank you!

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Most helpful response

ATO Certified Response

ATO Community Support

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Hi @Melanie3,

 

If you receive cash as a distribution from your parents estate after they pass away, generally you do not declare cash amounts. If you receive property or a capital gains tax asset you may be required to report it here.

 

We have information on our website about inherited dwellings and inherited assets.

 

Please use the links below for further assistance.

 

Links-

Inherited dwellings.

Inherited assets.

 

All the best.

 

 

1 REPLY 1

Most helpful response

ATO Certified Response

ATO Community Support

Replies 0

Hi @Melanie3,

 

If you receive cash as a distribution from your parents estate after they pass away, generally you do not declare cash amounts. If you receive property or a capital gains tax asset you may be required to report it here.

 

We have information on our website about inherited dwellings and inherited assets.

 

Please use the links below for further assistance.

 

Links-

Inherited dwellings.

Inherited assets.

 

All the best.