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Daniel, Solicitor
Category: French Law
Satisfied Customers: 5778
Experience:  Bachelor of Laws (dist) Graduate Diploma in Legal Practise. Admitted NSW Supreme Court / High Court
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My mother has left me a share portfolio of australian

Customer Question

My mother has left me a share portfolio of australian $260,000 and $50,000 cash. I am an australian citizen but have been paying tax and living in france for just over 5 years.If I leave all the money in austrlaia do I need to pay tax on it in france.
Submitted: 2 years ago.
Category: French Law
Expert:  Daniel replied 2 years ago.

No there is no tax issues at all with respect of assets / monies from Australia to France.

Customer: replied 1 year ago.
if that is the case am I correct in saying that if I inherit the money in australia, leave it there, that I don,t need to declare it in France, or pay tax on the inheritance in france. I have an australian passport, but am a french resident.
Expert:  Daniel replied 1 year ago.

That is correct.
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Customer: replied 1 year ago.
This does conflict with advice I have here in France, my accountant here said and I quote2. Inheritence tax in FranceUp to 100.000 euro there is no tax to pay and above this amount:
up to 8.072 euro: 5%
8.072 to 12.109 euro: 10%
12.109 to 15.932 euro: 15%
15.932 to 552.324 euro: 20%So in your situation you have inherited 50.000 AUD savings and 250.000 AUD shares. Based on an interest rate of 1 AUD = 0,64 euro this would be 192.000 euro.
The French tax would be in this exemple 16.594 euro. You need to take into account the interest rate on the day your mother is deceased.
I would be delighted if what you are saying is correct, are you totally up to speed on inheritance?
Does this mean I pay tax on the inheritance at source in Australia as a foreign tax payer? Or do Australian rules apply ie , no inheritance tax. ?
Expert:  Daniel replied 1 year ago.

I will transfer this to French law section

Customer: replied 1 year ago.
I have not heard from them, i.e. French law section yet?
Expert:  Daniel replied 1 year ago.

ill see what I can do

Customer: replied 1 year ago.
Ok' I will wait for your respose
Expert:  Daniel replied 1 year ago.