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Related Tax Questions
With regards to paying gift tax, if a grandparent were to
With regards ***** ***** gift tax, if a grandparent were to give cash gift in excess of $15,000 annual limit, could the excess amount be gifted without paying taxes based on lifetime estate limit? … read more
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Robin, I have found on ATO website the following: Target
Hi Robin, I have found on ATO website the following: Target foreign income is: any income earned, derived or received from sources outside Australia a periodical payment by way of gifts or allowances … read more
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Hello I have a question regarding the money transferred from European bank account to Australian bank account. For the past financial year, several times my parents in Europe have put certain amount o… read more
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A married couple want to give $100,000 cash to their
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My parents (Indian citizens) are planning to divide their
Hi! My parents (Indian citizens) are planning to divide their inheritance among their children. I am one of them. This inheritance is abroad. As I understand if I sold that inheritance I have to pay c… read more
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Are you aware of different ways to send money from India to
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a german citizen receives a cash gift of $100,000 from an American
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How much gift tax would have to be paid if an aged parents
How much gift tax would have to be paid if an aged parents home is sold and the money from the sale is divided between children of the aged parent… read more
Expert
Expert
Tax question: My mother is now in an Aged Care facility and
Tax question: My mother is now in an Aged Care facility and may need to reduce her bank balance/assets to retain all her State priveleges - I understand to below $40K. How can she do this without incu… read more
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Filing a form 3520. If you inherit money from a parent who
Filing a form 3520. If you inherit money from a parent who lives in Australia, do you have to file a 3520 to report the receipt of the bequest? The amount received was $130,000… read more
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Parents purchased a ranch decades ago for $100,000. They will
Parents purchased a ranch decades ago for $100,000. They will gift it to three children this year. Present value is approx $1 million. What value is placed on the property as a gift on their side of t… read more
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My parents want to start moving money from their estate to
My parents want to start moving money from their estate to their three adult children. so far they have each given us the allotted amount, 12,000 so all three children got 24,000 Now they are moving a… read more
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Can money given to a minor by a grandparent be used to
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If a parent puts their children as owners of their home ...
If a parent puts their children as owners of their home (primary residence) in 2004 and the parent dies in 2006. When the home is sold, what basis must the kids use to figure out their tax liability?… read more
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what is the percentage of taxation on gifts from ...
what is the percentage of taxation on gifts from parents to adult children?What are the various limits?… read more
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I am a widow and have drawn up an estate plan to name both ...
I am a widow and have drawn up an estate plan to name both of my children as owners of my house. What is their tax mplication when I pass away?… read more
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Is it possible for aged parents to give a lump sum of ...
Is it possible for aged parents to give a lump sum of money to their children tax free? The parents presently send money to charities to help their tax situation. Please let me know [email protected]… read more
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My parents want to gift money to the children (150,000 ...
My parents want to gift money to the children (150,000 divided between 3 children) How should the money be gifted? Optional Information: Tampa, Florida Already Tried: Nothing… read more
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