Feb 21, 2024 · We call it adequate consideration when you get money, goods or services to the same value. Watch our video to learn more about gifting. You can choose to give away any amount and as many gifts as you like.
Understanding the Context
If the total value of your gifts is more than the value of the gifting free area, your payment may be affected. If you gift over the value. You can choose to give away any amount. If you go over the value of the gifting free area, it will affect your payment.
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Key Insights
Any gifts you made in the past 5 years may be included in your income and assets. Home Asset types Gifting What gifts we include in income and assets tests Listen Home Ageing Retirement years Top payments Age Pension Who can get it Assets test Asset types Gifting What gifts we include in income and assets tests Listen We have some exceptions to how we assess gifting. Home Ageing Retirement years Top payments Age Pension Who can get it Assets test Asset types Gifting When gifting exceptions apply Listen