Hi All, just seeking advice from this helpful hive mind as I have not been able to find any information on google or the Wiki.
I am in Australia and have a friend in Japan who recently got married and I would like to transfer them a monetary gift – I intend to use Wise directly to their bank account. My question is: are there any income tax implications for my friend receiving money from overseas directly in their bank? I am wondering if I would be better suited to just physically give them the gift when I next head over for a holiday, but I have no idea when that will be.
I am just worried about unintentionally creating work / issues for my friend.
Thank you for your time 🙂
by lanxal22
3 comments
[deleted]
Depends on the amount and how much other people have gifted them. Above about 10k aud they’ll have to start paying taxes on the amounts
Ahhh I see. Thank you!!
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