Building Blocks Financial Planning

According to Google, this is one of the most commonly searched tax questions - and for good reason! Here's the short answer:

🟢 You have three options: move in, rent it out, or sell. Each has different tax implications — so the decision is worth thinking through carefully before you act.

🟢 There is no inheritance tax in Australia. So you won't pay tax simply because you've inherited a property.

🟢 But CGT can apply. If you sell the property, Capital Gains Tax may be triggered depending on when the deceased purchased it, whether it was their primary residence, and how long you hold it before selling.

🟢 If it was their main home and you sell within 2 years, you're generally exempt from CGT. Take longer than 2 years, and it gets more complex.

🟢 Don't rush. This is one of the most common mistakes people make. Big financial decisions made during grief rarely go well. Give yourself permission to pause.

Every situation is different: the property's history, your own financial situation, and your long-term goals all play a role in what the right move looks like for you.

We're here to help you think it through - without the pressure.

📆 Book at https://bit.ly/3OL46JL
📞 Call us on 03 9748 7999
📩 Email [email protected]
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*This is general information. It is not financial advice. We have not considered your personal financial circumstances. You should consider the appropriateness of the advice for your circumstances before making any decision.

She received an inheritance. And what should have been a gift quickly became a source of stress.

Under the assets test, the extra money put her age pension eligibility at risk. More money in the bank, but potentially less income every fortnight.

She came to us not knowing where to turn. She didn't want to blow through the inheritance, but she also couldn't afford to lose her pension.

We sat down, looked at her full picture, and put a plan together. A combination of gifting, the purchase of an annuity, and a funeral bond: each strategy carefully chosen to bring her assets back within the threshold and protect her pension eligibility.

The result? Her age pension was preserved. And her inheritance was handled in a way that actually made sense for her life.

If your financial situation has recently changed - an inheritance, a property sale, a redundancy - it's worth having a conversation before it becomes a bigger issue. Sometimes it can be a bit of a balancing act, so you can maximise the money that hits your account.

Book a quick chat with our team:

📆 Book at https://bit.ly/3OL46JL
📞 Call us on 03 9748 7999
📩 Email [email protected]

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*This is general information. It is not financial advice. We have not considered your personal financial circumstances. You should consider the appropriateness of the advice for your circumstances before making any decision.

Some of these take less than 10 minutes and could save you a decent chunk on tax. Others (like topping up super) you'll want to sort this week before funds cut off.

Not all of these will apply to you, but if even one or two do, it's worth a look before 30th June. And if you need help, we're here.