how do i give 10k to my parents without aggroing the taxman? i live in australia, the money is currently in my savings account and i want it to end up in their mortgage offset account
10k and over can be subject to review from AUSTRAC. I assuming he's talking about legitimately obtained income though, hence the tax question - if so, then there's no wucking furries.
Bruh, you're looking for the wrong thing. You're looking for the ATO saying there's no gift tax, when you should be looking at it as the ATO ISN'T saying there is a tax on gifts. Same shit with death tax. They talk about tax exemptions on deceased estates but no specific tax when you die.
To the extent this makes you feel better, look at the Sydney Morning Herald's expert's view from last year - http://www.baka.com.au/money/ask-an-expert/gift-tax-20150317-1m1dja.html
You're welcome bruh
in the US you can give a gift that's non-taxable only up to $14k
You're other option is to create a psuedo loan and then forgive the loan on their birthday or another day of importance
forgiveness of debt is non-taxable here, just make it seem like a gift
worst case scenario:
>DPS goes down
>healer is OOM
>tank is getting smothered