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TemiS(Newbie)Newbie
16 July 2024

I am a tax paying resident. My parents in overseas want to support me with house deposit which is around $150.000. Do i need to declare and pay tax on that money? What is the maximum amount my parents can gift without tax implications? Therefore, what documents do i need to provide to prove it was gifted money?

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Receiving house deposit as a gift from overseas parents | ATO Community