Dear Ms Wise, both my parents live overseas – my father in South Africa and my mother in the UK. My children and I stand to inherit a small amount from both of them after they die. I’m wondering whether we’ll have to pay tax in Australia on any inheritance. Colin
The wisdom: There will be no tax payable in Australia if you inherit cash, says Jason O’Connell, the chief executive of Life Financial Planning, which advises expats moving between the UK and Australia.
