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Maximum amount of money received as a gift before being taxed.

Posted 18 November 2015

Kay says:
18 November 2015 at 10:44

I received monetary gifts for my weddings, kitchen tea, bachelorette party and engagement party. I deposited the money on a monthly basis to avoid one big amount. How will this work for my income tax return. Will I be taxed on this? I wasn't sure of the best way to do it. Please help.

TaxTim TaxTim says:
18 November 2015 at 11:58

These gifts won't be taxed so no need to declare on your Tax Return.

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