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Forum General If I receive a gift of 400 K from my father in cash, is there any tax implication for me?

Forum General If I receive a gift of 400 K from my father in ...

Forum General If I receive a gi...

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  • #1384
    MS
    MoneySmart Singapore
    Participant

    Posts: 31

    Joined: Jun 27, 2014

    Expert

    Hi

    as far as we know, there is no requirement for this amount to be taxed if it is a gifting from your family member. However this amount of cash was generated, it would have already been subjected to tax already.

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