Gifts
175AB Gifts
In this Part, a gift is —
a disposition of property made by a person to another person (otherwise than by will) without consideration in money or money’s worth or with inadequate consideration; or
the provision of a service by a person to another person without consideration in money or money’s worth or for inadequate consideration if the service is one that would normally only be provided in return for adequate consideration.
However, a gift does not include —
a disposition of property, or the provision of a service, to a candidate or third‑party campaigner for a purpose other than a political purpose; and
an annual subscription of not more than $200 paid by a person to a political party or to a division of a political party in respect of the person’s membership of the party or division.
[Section 175AB inserted: No. 30 of 2023 s. 114.]
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