My partner inherited some money (from policies and investments) over the last financial year and paid a lot of tax on the payments. My question is, because he is not employed, can he claim any of the tax back?
Unfortunately not, there is no ability to claim a refund on inheritance. Why did he pay tax and not the actual estate though?
Matieusays: 29 January 2015 at 16:01
Technically it was inheritance as it came from my father. But it was a policy payout from his work, and money from retirement annuities where I was named as beneficiary so the estate did not deal with it, it was paid directly to me.
TaxTimsays: 29 January 2015 at 22:07
Then the amounts would have been taxed as per the lumpsum tables and no deduction or claim can be made against this once off tax.
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