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WA Will Gift from Parents Affect Pension and Taxes?

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

  1. CyberPunk

    CyberPunk Member

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    Hi,

    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.
     
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