Granny Flat interest
If you transfer a house for less than its value, it may not be a gift. This applies if you get a right to live there for life. We call this a granny flat interest.
Read about the granny flat interest.
If you transfer a farm for less than its value, it may not be a gift. This applies if it’s in return for past unpaid work. We call this forgone wages.
Read about forgone wages.
Special Disability Trusts
It may not be a gift if you give up to $500,000 to a Special Disability Trust. For it not to be a gift, both of the following must apply:
- you’re an immediate family member of the principal beneficiary
- you’re of Age Pension Age.
Read about Special Disability Trusts.