Thinking of Spending Your Inheritance in Advance? Stop Right There
The Money Puzzle · The Australian
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Show Notes
We are on the cusp of the biggest handover of wealth in the history of the nation: A wall of money- estimated at $3.5 trillion - from both wills and super is about to transfer to the next generation. In Australia, we don't have an inheritance tax (though we do have an effective tax of 17 percent on money inherited through Super). With everyone living longer and the age of inheritance moving ever higher, the issue of 'impatience' is building with some investors not just anticipating future income but actively mortgaging their inheritance...it's a very bad idea. In today's show explain why... and also look at:
- The rules of inheritance for all generations
- How to lower the tax due on super inheritance
- Ozempic's health and investment outcomes
- Super statistics for women
Jacqui Clarke of Maxima Private joins Wealth Editor James Kirby in this episode
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