How Much Can You Gift Tax Free 2024 Nz . For 2024, the annual gift tax exclusion is $18,000, meaning a person can give up to $18,000 to as many people as he or she wants without having to pay any taxes on the gifts. You didn’t order or pay for it.
If you chose to forgive more than this balance, you will be liable to pay gift. In addition, gifts from certain relatives such as parents, spouse and siblings are also exempt from tax.
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