Maximum amount of money received as a gift before being taxed.

By Marc Sevitz · Updated

Kay

Kay said:
18 November 2015 at 10:44

I received monetary gifts for my weddings, kitchen tea, bachelorette party and engagement party. I deposited the money on a monthly basis to avoid one big amount. How will this work for my income tax return. Will I be taxed on this? I wasn't sure of the best way to do it. Please help.
TaxTim Marc

TaxTim Marc said:
18 November 2015 at 11:58

These gifts won't be taxed so no need to declare on your Tax Return.