Lancelot1937 Posted November 14, 2013 Report Share Posted November 14, 2013 My wife's sister died recently in W.A. Her house will be sold. We live in the UK and my wife will inherit one third of the value. Will any tax have to be paid in W.A and will any tax have to be paid in the UK? Anyone been through this situation? Quote Link to comment Share on other sites More sharing options...
moirclan Posted November 14, 2013 Report Share Posted November 14, 2013 if the house was her main residence and is sold and settled with in one year and a day its fine , nothing to pay , if it goes over the year and a day then capital gains tax comes into it Quote Link to comment Share on other sites More sharing options...
Lancelot1937 Posted November 15, 2013 Author Report Share Posted November 15, 2013 Many thanks, what about transferring the money to the UK. Is it easy? Quote Link to comment Share on other sites More sharing options...
Lancelot1937 Posted November 16, 2013 Author Report Share Posted November 16, 2013 Anyone any comments? Quote Link to comment Share on other sites More sharing options...
Guest guest10912 Posted November 16, 2013 Report Share Posted November 16, 2013 Your wife's sister's domicile is relevant to inheritance tax. Was she domiciled in Australia or UK? Noting that it is very hard to change domicile, it is not like changing residency status. Quote Link to comment Share on other sites More sharing options...
Lancelot1937 Posted November 17, 2013 Author Report Share Posted November 17, 2013 Your wife's sister's domicile is relevant to inheritance tax. Was she domiciled in Australia or UK? Noting that it is very hard to change domicile, it is not like changing residency status. Thanks, my sister in law came to Australia in 1959 and has lived here since then. My wife and live in the UK. My query is does the sale of the house, here, and the transfer of monies to the UK incur any taxes etc. at any stage? Thanks for any replies. Quote Link to comment Share on other sites More sharing options...
Guest guest10912 Posted November 17, 2013 Report Share Posted November 17, 2013 Thanks, my sister in law came to Australia in 1959 and has lived here since then. My wife and live in the UK.My query is does the sale of the house, here, and the transfer of monies to the UK incur any taxes etc. at any stage? Thanks for any replies. Yes I did not need any clarification on the question, it was clarification on her domicile that is relevant. If she was UK domiciled then there would have been potential for UK inheritance tax, I think you can safely assume she was not UK domiciled however. Quote Link to comment Share on other sites More sharing options...
Guest gold vision financial Posted December 11, 2013 Report Share Posted December 11, 2013 Hi there, The transfer of funds to the UK is a easy process and it can be done via the banks, however the banks exchange rates are fairly poor when compared to non bank Foreign Exchange Service providers. By using these service providers you can improve the value of you transfer by many thousands of dollars when compared to using a Bank. Should you have any other questions just email me directly. John Horvath Gold Vision Financial Services Quote Link to comment Share on other sites More sharing options...
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