The Courier-Mail

FLEXIBLE RULES

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If you want to give away money quickly, the rules are more flexible than they first appear. For example, you can give $10,000 on June 30, another $10,000 on July 1, and another $10,000 the following July 1 – using up the five-year gifting limit of $30,000 in just one year and one day.

Another strategy is to gift money or assets in your early 60s long before claiming the pension, because the assets are only assessed for five years.

Gifting may be great for the grandkids and adult children, but in these days of increasing

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