P
peanut
New Member
Hi folks!
Just a quick question.. Does anyone know if I were to purchase property with cash given to me by my parents would this money considered as inherit tax? I understand the taxman can only go back 7 years.
And also, what would happen to any profits made from property bought with money if its considered inherited? Would I get taxed income made with the inherited money?
Thanks!
Just a quick question.. Does anyone know if I were to purchase property with cash given to me by my parents would this money considered as inherit tax? I understand the taxman can only go back 7 years.
And also, what would happen to any profits made from property bought with money if its considered inherited? Would I get taxed income made with the inherited money?
Thanks!
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