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https://www.adviserratings.com.au/news/how-much-tax-do-you-pay-when-gifting-money-to-family-members/
Well, thing might be much more complicated than you thought. Here is another Aus website talking about gift money. It says there is tax and there is $10,000 limit rule.
ATO refused to say this clearly. If you call ATO on the phone, they would tell you differently with tax. From the website discussion, alot of Australians are confused, and someone intend to gift $1M to their child.
Any financial expert here can explain to me? |
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