WA Pay to Inherit Property - Tax Obligations?

[1966AJW]

Here's an interesting one.

If someone is paying me a weekly amount on a property with the promise of inheriting it at the end. Then do I have to declare their payments as income?

What are my tax obligations?

 

[1966AJW]

I've looked into this a bit more and with my limited understanding.

If someone receives money for a property that they promised to bequev to another, but instead sells the property.

The should the person who sold the property pay captial gains tax on not just the sales price gain but also the monies received?