I am in my 60s and with my two sisters will inherit some property in Australia when my mother passes. she is in her 90s.
It is a property-only inheritance and we want to sell immediately as no one wants to keep it. i will be double taxed both for inheritance and capital gain. property has been in our family for 50 years so taxed on 95% of selling price.
My sisters and I each have two kids (mine are in Japan). Adding 6 grandchildren as inheritors won’t help my tax liability at all, will it?
by Holiday_Response8207