My friend set up a GoFundMe campaign to raise funds after my fiancé's suicide. There was only a total of $2700 raised. How much will the ATO tax my friend for this little amount of a gift donation?
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Hi @Ellechemy
Sorry to hear about this situation.
@Bruce4tax is spot on. Gifts aren't considered taxable. Your friend as a promoter it'll depend on the circumstances and whether or not they're carrying on a business or a profit-making scheme, which it doesn't seem to be, so they should be fine.
Check out a similar response with some very helpful info.
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Gifts are not taxable.
Hi @Ellechemy
Sorry to hear about this situation.
@Bruce4tax is spot on. Gifts aren't considered taxable. Your friend as a promoter it'll depend on the circumstances and whether or not they're carrying on a business or a profit-making scheme, which it doesn't seem to be, so they should be fine.
Check out a similar response with some very helpful info.
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