Carita Dorelle

How Much Can You Gift Tax Free 2024 Nz. You can now gift an unlimited amount tax free as gift duty has been abolished. Under section co 1, a gift is taxable to the recipient if the gift and the recipient have a sufficient connection.

Gifts of nz$12,000 or more per year were also required to be recorded with the new zealand government, even if they weren’t liable for gift duty. However, there are some occasions where tax may be payable, or capital gains tax (cgt) may apply.