Cosevo

Thank you Marisa.  My Daughter did say she could not move the interest to any bank account and it had to stay in the Commonwealth Bank.

Should she also have been paying tax on the interest?

That was not very nice of that couples daughter that kept the money was it.

Been trying to find out about our existing Assurance of Support.  My Daughter sponsored us ten years ago but as she did not have the money we paid it $14,000

This was set up in the Commonwealth Bank as instructed.

In the past ten years she has had to declare this money for tax reasons and was paying tax on the interest and I believe at one point it was about $600. Surely this is not right?

I also read somewhere (too late for us now) that a couples child could not put the bond money up so they paid it (like we did) but they had the interest from this bond paid into their own bank account.

My Daughter said Commonwealth will not do that? who is right please.