Are there any implications to passing on inheritance while you are still alive?

Q.

My mother would like to give her five grandchildren $10,000 each as an inheritance before she dies which may be in the next few months. Are there any implications, such as the tax department, to consider?

There are no tax implications but if she is receiving an age pension Centrelink will treat gifts over $10,000 as a deprived asset. This should not affect her pension.