what happens when relly's die, page-8

Stocko

Assuming you did receive the money and propertythe following would apply

1. Cash - yours to do what you want the governments take - Nil

2. Properties- Most states do not charge stamp duty on the transfer of properties that have been bequested in a will. The will must state the property is to be transferred to you - not the estate.

Capital gains tax will apply to the properties with the cost base and purchase date being when your deceased relative bought the property. If it was a primary residence it remains tax free if sold within (was 12 months may now be 2 years) or if you use the property as your primary residence.