Private ruling: Income tax - Assessable income - Gifts
Date of advice: 15 January 2026
Published: 9 March 2026
Ruling period: For the income year ended DDMMYYYY
Date scheme commenced: DDMMYYYY

Ruling: Q1: Are the amounts you each received included in your assessable income? | A1: No. The Commissioner accepts the amounts were voluntary gifts of money, received by each of you for personal reasons, with no connection between the receipt of the gift and any income-producing activities. The gifts are not considered ordinary or statutory income and were referable exclusively to the attitude of the donor and personally to each of you. No material benefit or advantage was received by the giver by way of return.

Relevant facts and circumstances: X and Y are both Australian resident for taxation purposes. During the income year you each received a monetary gift from relative A for $-. During the income year you each received a monetary gift from relative B for $-. The amounts were not expected, recurrent or relied upon by either of you. No material benefit or advantage was received by the giver by way of return from either of you. The funds came voluntarily from the donor's personal savings to support you as family members and were in no way related to any income-producing activity by either of you.

Relevant legislative provisions: Income Tax Assessment Act 1997 section 6-5 | Income Tax Assessment Act 1997 section 6-10