Site icon Bizon News

Family housing donations not always tax-free

Family housing donations may not always be tax-free, as recipients must spend funds on specific housing purposes within 12 months.

Family donations and tax

Family housing donations may not always be tax-free, according to interpretation.

Housing donation requirements

For this purpose, the recipient must spend the received funds within 12 months on housing purposes.

However, these cannot be arbitrarily chosen housing purposes.

Exit mobile version