Tax Facts

Tax Facts – Gift Duty

The government abolished gift duty for dispositions of property made on or after 1 October 2011. This means that:

For gift duty on any gifts made before 1 October 2011, the IRD’s guide on the IRD website is helpful.

A gift is something given when:

If something of lesser value is given in return for a gift, the value of the gift is the difference between the two values.

These items can all be gifts:

For more information on gifting or gift duty please give us a call.

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