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Afsoon(Newbie)Newbie
5 Nov 2021

Hi. I want to buy my first house and I need $20,000 more which my brother is lending me. Can I receive this money in my bank account without paying any tax?

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3 replies
1,092 views
3 replies

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Most helpful reply

RenATO(Community Support)Community Support
7 Nov 2021

Hi @Afsoon,


Gifts aren't taxed however if you deposit the funds into an account and you earn interest then you'll need to declare the interest in your tax return.

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Most helpful reply

RenATO(Community Support)Community Support
7 Nov 2021

Hi @Afsoon,


Gifts aren't taxed however if you deposit the funds into an account and you earn interest then you'll need to declare the interest in your tax return.

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