Australia's #1 for Law

Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!

WA Will Gift from Parents Affect Pension and Taxes?

Discussion in 'Property Law Forum' started by CyberPunk, 11 August 2017.

  1. CyberPunk

    CyberPunk Member

    11 August 2017
    Likes Received:

    I'm a disability pensioner & will be receiving a house as a gift from my mum. Will this affect my pension as I have no other income?

    Also what taxes will my mum have to pay, she is 75 & receives no pension or assistance, dad requested in his will when the family home sells (they lived in it 30+yrs) that mum gets his 4 kids a small home each.

    Mum has sold the property with enough to buy herself & us 4 children a $350k house each & has kept a small amount to retire on & live with no government assistance or pensions.

    She has no super fund or other investments but simply wants to set her kids up.

    Any help would be appreciated.

Share This Page