Hi All. Am I able to make a cash gift to my adult children living on their own? Is tax payable to either party (me or my children) and is there an amount limit that can be given? Only a one-time gift or can it be multiple gifts during the year / over the years? Thanks.
Gifts of Cash to adult children
in Credits and deductions
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Hi All. Am I able to make a cash gift to my adult children living on their own? Is tax payable to either party (me or my children) and is there an amount limit that can be given? Only a one-time gift or can it be multiple gifts during the year / over the years? Thanks.