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Joanna S.
Joanna S.
Mckinnon, VIC
1 Likes
0 Followers
Q:

Hi, my family sold a property overseas and want to send me money as a gift. Do I pay tax on money received as gift from an overseas account and is there an amount that is free of tax? Thank you!

2 months ago

Responses

Hi there,

There is no gift tax in Australia however you may get questioned by AUSTRAC.

Also the ATO may consider this income and you may need to prove it is not because it was a gift.

AJ

Comments

Thank you, appreciate it, it's a very helpful reply!

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