Hello, I’m an Australian resident and my parents from overseas want to help me to pay my mortgage and they are giving me $150K, I have read that over $10.000 gift I have to pay tax but I also called the ATO and they said that regardless of the amount of money I don’t t have to pay tax. An accountant told me that if is just one transaction, I don’t have to pay tax for it. My question is which one is true? My mom is planning to give me one part in one transaction from her bank account to here and my dad will give me the rest of the money from his bank account to complete the $150K so that will have to be 2 transactions from ovearseas, one from my mom and 1 from my dad the same day.
I just want to make sure that I’m doing everything ok
Thank you
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