To determine whether assets you inherit from a deceased estate as classed under your income you must first consider your own personal tax obligations, and how your financial position will be impacted once you receive the inheritance. There are many factors that determine if inheritance is taxed. For instance, the following scenarios could apply:
If you inherit a super death benefit and it becomes an income stream, the death benefit will be taxed.
If you have inherited a property, and you receive income from that property (by renting it out, selling it or using it to generate tax income) it will be taxed.
If you inherit a property and you use the property as your main residence (if you’re a dependent).