All Topics / Legal & Accounting / GIFT MONEY HELP

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of keren_mx5keren_mx5
    Participant
    @keren_mx5
    Join Date: 2010
    Post Count: 17
    August 25, 2014 - 12:06 pm

    Hi all,

    If you are receiving a gift money more than $100k from overseas from parents. Will it be taxed?
    What measures do they need to take to prevent it? Whether in the form of letters etc?

    Thanks.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    August 31, 2014 - 5:09 pm

    Gifts aren’t taxed in Australia. – as long as it is not really income.

    You should consider the asset protection aspects of receiving this gift too.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.