Gifting
If you give away your income or assets, they may still count towards your income and assets tests. This also applies if you sell them for less than they’re worth.
What a gift is
It’s a gift if both of these apply:
- you sell or transfer an income or asset
- you get less than its value or nothing in return.
It’s not a gift if both of these apply:
- you sell or transfer an income or asset
- you get money, goods or services to the same value.
We call it adequate consideration when you get money, goods or services to the same value.
Watch our video to learn more about gifting.
Page last updated: 17 June 2020
This information was printed 27 October 2020 from https://www.servicesaustralia.gov.au/individuals/topics/gifting/27276. It may not include all of the relevant information on this topic. Please consider any relevant site notices at https://www.servicesaustralia.gov.au/individuals/site-notices when using this material.