If I receive a $100000 from my mothers will and keep it, I assume I have to pay 30% tax on it but if I roll it over to my super fund, then it is tax free. I am 64yrs old.
Can anyone please confirm this.
Also out of this I want to give my grand children $ 3000 each. Do they or their parents have to pay tax on this amount?
Thank you
flinders
