Joanna S. Mckinnon, VIC 1 Likes 0 Followers 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! 7 years ago Responses Suresh Rajani Current Rating: 4.6 / 5 Accountant Parramatta, NSW 7 years ago Hi JoannaThere is no tax on money coming in as a gift. (<% currentCount %>) Comment (<% currentCount %>) Share Contact Expert Andrew Jeffers Current Rating: 4.88 / 5 Accountant Sydney, NSW 7 years ago 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 (<% currentCount %>) Comment (<% currentCount %>) Share Contact Expert Comments Joanna S. Thank you, appreciate it, it's a very helpful reply! Your Answer If you wish to include a video or audio response, you can do this by including links to Youtube, Vimeo or SoundCloud (https://www.youtube.com/watch?v=xxxxxxxxxx OR https://vimeo.com/xxxxxxxxx) <% error.message %>
Thank you, appreciate it, it's a very helpful reply!