my brother in law sadly passed away last year and i am a beneficiary. I have received monetary distribution( the only assets were 2 x super policies ) no property, shares etc.
Do i have to declare this on my tax?
is this classed as income?
do i pay CGT and if so is it at my marginal rate
I have looked at the ATO website but i just want some idea in plain english
What about my mother? she is a pensioner ( only source of income ) does she have to declare this and would she have to pay any tax?