muddycoffee Posted June 4, 2012 Share Posted June 4, 2012 Thanks for that Cyclone, although I did google and look at the Tax office website. Even the page you liink to is not obvious as it mainly deals with money in a trust. What I am talking about is basically cash. Link to comment Share on other sites More sharing options...
cgksheff Posted June 4, 2012 Share Posted June 4, 2012 Sorry to bring this thread up again but I have an inheritance question. One of my mates is set to inherit ten grand from a relative who died recently. Assuming he is given a cheque. As he already pays income tax from his full time job, does he have to declare the inheritance as income and pay income tax on it as well ? Cyclone's answer of "No" is correct. Link to comment Share on other sites More sharing options...
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