Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
My mum has passed and my sister is going to buy the other 3 siblings out of the house . If she just transfers the money to our accounts from her account , will we end up paying tax on it? How do we prove it is our inheritance . RT