HappyIsland Posted May 27, 2015 Report Share Posted May 27, 2015 Does anyone know anything about gift tax in Australia?How much does one pay on gift tax (money received from Overseas) in Australia? Quote Link to comment Share on other sites More sharing options...
Rhyss Posted May 27, 2015 Report Share Posted May 27, 2015 (edited) Does anyone know anything about gift tax in Australia?How much does one pay on gift tax (money received from Overseas) in Australia?it's never a gift and if you're ever asked to "please explain", it's always a loan......remember Edited May 27, 2015 by Rhyss Quote Link to comment Share on other sites More sharing options...
SurferMan Posted May 29, 2015 Report Share Posted May 29, 2015 Hi HappyIslander,Here you go matey.https://www.ato.gov.au/results.aspx?q=gift%20tax&site=ATOGOV_Ektron&partialfields=%28dc_date_filter:2015|dc_date_filter:0515%29&requiredfields=.%28ROBOTS:INDEX%29&ms=ATO_Home&start=0&getfields=*#L0dTQVByb3h5L3NlYXJjaD9zaXRlPUFUT0dPVl9Fa3Ryb24mY2xpZW50PUFUT0dPVl9FS1RST04mcHJveHlzdHlsZXNoZWV0PUFUT0dPVl9FS1RST04mb3V0cHV0PXhtbF9ub19kdGQmcmVxdWlyZWRmaWVsZHM9LihST0JPVFM6SU5ERVgpJnBhcnRpYWxmaWVsZHM9KGRjX2RhdGVfZmlsdGVyOjIwMTV8ZGNfZGF0ZV9maWx0ZXI6MDUxNSkmcT1naWZ0JTIwdGF4JmRjX3Rlcm1zX2lkZW50aWZpZXI9RENURVJNU19pZGVudGlmaWVyJmRjX3Rlcm1zX25hdG51bWJlcj1hdG9fcmVmZXJlbmNlX25hdE51bWJlciZkY190ZXJtc19hdG9fZ3NhX2NvZGU9YXRvX2dzYWNvZGUmZ3NhX3NlYXJjaGFibGU9Uk9CT1RTJTNBSU5ERVgmZGNfdGVybXNfZGNfZGF0ZV9maWx0ZXI9ZGNfZGF0ZV9maWx0ZXImYXRvX2hvbWU9QVRPX0hvbWUmZ2VuZXJhbF9pZD0xMDA2JmV4Y2x1ZGVfZ2VuZXJhbD0xNDYlMkMyMTAlMkMxMDA0JTJDMTAwNSUyQzE0NzAlMkMxODI5JTJDMTg0MiUyQzIwMjYlMkMyMDI3JTJDMjA0MCUyQzIyMTYmY3JpdGVyaWFfZXJyb3JfbWVzc2FnZT1Zb3UlMjBuZWVkJTIwdG8lMjBlbnRlciUyMGElMjBrZXl3b3JkJTIwZm9yJTIweW91ciUyMHNlYXJjaC4mbGVnYWxfbm9uaW5kZXhlZD0tUk9CT1RTJTNBSW5kZXglMjUyME9ubHkmbGVnYWxfc2VhcmNoYWJsZT0tUk9CT1RTJTNBTm90JTI1MjBTZWFyY2hhYmxlJm1hcmtldF9zZWdtZW50X3Nob3J0PUFUT19Ib21lJm1hcmtldF9zZWdtZW50PUFUT19Ib21lJm1hcmtldF9sYWJlbD1BVE9fSG9tZSZub19zZWFyY2hfY3JpdGVyaWE9ZmFsc2UmYXRvZ292X2Rucz1odHRwcyUzQSUyRiUyRnd3dy5hdG8uZ292LmF1JmxlZ2FsX2Rucz1odHRwJTNBJTJGJTJGbGF3LmF0by5nb3YuYXUmc2VhcmNoX3RpcHNfdXJsPUdvb2dsZVNlYXJjaFRpcHMuYXNweCZyZXN1bHRzX3BhZ2VfdXJsPSZhZHZhbmNlZF9wYWdlX3VybD1BZHZhbmNlZFNlYXJjaC5hc3B4Jm1hcmtldF9zZWdtZW50X2xpc3Q9MTQ2JTJDMjEwJTJDMTAwNCUyQzEwMDUlMkMxMDA2JTJDMTQ3MCUyQzE4MjklMkMxODQyJTJDMjAyNiUyQzIwMjclMkMyMDQwJTJDMjIxNiZhdG9nb3ZfY29sbGVjdGlvbj1BVE9HT1ZfRWt0cm9uJmxlZ2FsZGJfY29sbGVjdGlvbj1sZWdhbGRiJmdzYV9oYXNoPTE= Quote Link to comment Share on other sites More sharing options...
Gerhardk Posted June 15, 2015 Report Share Posted June 15, 2015 No donations tax in Australia (giving or receiving) but giving may trigger a liability in RSA if, for example, it is donated by RSA tax resident.What often happens in Australia though is that people receive money from overseas and the ATO picks up that there are higher inflows into your bank account as reported on tax return. So they may ask you to explain. So from ATO side they may be asking about unexplained income. 1 Quote Link to comment Share on other sites More sharing options...
mlothian Posted July 16, 2015 Report Share Posted July 16, 2015 Gift Tax is applied when money is transferred from South Africa. Gift AllowanceThe gift allowance can be utilised to transfer amounts up to R1, 000, 000, overseas as a gift. Any amounts over R100, 000, are taxable at 20%All amounts under R100, 000, will have no tax implications for the person gifting the moneyGifts can only be paid from a South African resident to a third part currently living overseas (who can either be a non-resident or a South African resident temporarily abroad) Quote Link to comment Share on other sites More sharing options...
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