That is the amount you can gift to any one person each year free of any tax implications. For years the amount was set at $10,000, but since 2002 it has been slowly increasing. Making annual ...

I sometimes receive a call from a client inquiring about the rules on giving gifts to friends and family. They want to find out if there are any tax deductions and tax implications for gifting.

This means that a couple can give up to $36,000 to their child from a joint account with no tax consequences. Certain types of payments are not considered gifts, such as money given from a husband ...

These types of gratuitous transfers are taxable to the donor either by the estate or gift tax. When transferring the business, it is important to establish the recipient's tax basis in the ...

Whatever your reason, there are some important factors to consider before sending your gift. Potential tax implications top the list from a legal perspective, especially if you’re sending a ...

A reader asks about investing in his RRSPs after 71, withdrawing from RRIF and a sizable gift of money to his daughter would affect her tax-wise. Can I put some of the bank cash into an RRSP now ...

Although de minimis gifts and donation matching may have tax advantages, nothing prevents an employer from giving taxable gifts to employees. Thus, if an employer wants to give its employees a $ ...

If it is not proper, can I gift these shares to my granddaughter who is 21 years old and has a Demat a/c? a. Kindly explain the tax implications at the hands of the receiver. b. There are ...

The transaction of gift has been recorded in the records of the society. What are the tax implications of this arrangement? This arrangement has tax implications at two stages. The first is the ...