GIFT TAX
(noun)Did you mean?
Definitions
There is 1 meaning of the phrase
Gift Tax.
Gift Tax - as a noun
A tax imposed on transfers of property by gift during the lifetime of the giver
Example Sentences
"I need to consult a tax professional to understand the gift tax implications of transferring this property."
"My parents exceeded the annual gift tax exclusion when they gave me a large sum of money."
"The gift tax rates vary depending on the fair market value of the assets transferred."
"In some countries, there is no gift tax imposed on monetary presents."
"She had to pay a significant amount in gift tax after inheriting her grandfather's valuable artwork."
