Cryptocurrency Q&A Do I need to pay tax on gift money from overseas in Australia?

Do I need to pay tax on gift money from overseas in Australia?

GeishaMelody GeishaMelody Tue May 28 2024 | 6 answers 1216
I'm just curious about a tax-related matter. In Australia, am I required to pay taxes on the gift money I receive from overseas? I've heard conflicting opinions about this, so I'd like to get a clear answer. Is it taxed as income? Or is there a certain threshold that I need to be aware of? I'd appreciate it if you could provide some clarity on this matter. Do I need to pay tax on gift money from overseas in Australia?

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