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There is no tax payable on the gifts from family members and...

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Phalanx922

8 Posts.

01/09/20

21:39

Post #: 47003120
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Originally posted by BenGrahamReborn: ↑

Hi Everyone!!

Imagine the following scenario........
Your parents (or in laws or whatever) sell their farm in rural China and want to give you a 400k gift through Western Union......
1. Do you declare that in your tax return?????
2. Do you pay tax on it?

Cheers

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There is no tax payable on the gifts from family members and there is no limit on the amount of gift
1 Upvote

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