Canada does not have a federal "gift tax" on cash or property given to individuals, meaning no tax is owed by the giver or receiver, regardless of the amount. However, gifts sent from abroad via mail or courier are duty/tax-free only if they are worth CAN$60 or less.
Gift Tax in Canada
You can give any amount of cash to a family member without worrying about a gift tax. However, if you're gifting to a minor child, any income earned from that gift may be attributed back to you for tax purposes.
Gifts. You can bring gifts to Canada but they must be declared. If each gift is under $60, you will not have to pay duties or taxes (the gifts cannot be tobacco products, vaping products, alcoholic beverages or advertising matter).
Canada PostOpens in a new window has more information. Gifts valued at CAD$60 or less are exempt from duty and tax. If the gift is worth more than CAD$60, the Canada Border Services Agency will charge duties and taxes on the excess amount.
As the recipient, you do not pay tax on a gift of £50,000. For the giver, this would be a Potentially Exempt Transfer. As long as they live for seven years after giving it, it will be entirely free of Inheritance Tax.
Yes, you can likely give your daughter $50,000 tax-free by using your annual gift exclusion and lifetime exemption, but you'll need to file Form 709 with the IRS to report the gift exceeding the annual limit ($19,000 in 2024/2025). The $50,000 gift reduces your large lifetime exemption (over $13 million in 2024/2025), meaning you won't pay tax on it unless your total lifetime gifts exceed that huge amount; your daughter never pays gift tax on the money.
Can I give my son or daughter £20,000? While you can give your son or daughter a cash gift of £20,000 (or more), there may be tax implications. That's because any money you give that exceeds your £3,000 tax-free gift allowance will be added to the value of your estate and may be subject to inheritance tax when you die.
If the gift is worth more than CAN$60, you will have to pay any applicable duty and/or taxes on any amount over CAN$60. For example, if a relative sends you a gift worth CAN$200, you must pay any applicable duty, GST or HST and/or PST on CAN$140.
Although Canada does not place any limits on how much money can be transferred to or from the country, international transactions of $10,000 or more are tracked by the Canadian government to prevent money laundering, terror financing, and other financial crimes.
File your taxes with confidence
Canada doesn't have a gift tax, which means cash gifts to family members or friends usually aren't taxable—unless they generate income or come from selling investments.
Sending goods into Canada
While you are outside Canada, you can send gifts worth no more than Can$60 to someone in Canada free of duty and taxes. These goods do not count as part of your personal exemption, but they cannot be a tobacco product or an alcoholic beverage.
At a glance:
Any gifts exceeding $19,000 in a year must be reported and contribute to your lifetime exclusion amount. You can gift up to $13.99 million over your lifetime without paying a gift tax on it (as of 2025).
A gift over £3,000 could also be considered a Chargeable Lifetime Transfer (CLT). A CLT is most commonly a gift made into a discretionary trust, where you pay the IHT upfront –at 20% on any amount over the Nil Rate Band (currently £325,000 per person).
There's no limit on how much money you can give or receive as a gift! However, there are some occasions where tax may be payable, or capital gains tax (CGT) may apply. For example, in some instances when gifting property, shares or crypto assets, or when receiving money or an asset from a non-resident trust.
When it comes to gifting money, there are no taxes on any amount in Canada, unlike in the US, where you do not have to pay gift tax. Keep in mind, though, that if you're providing a gift for a certain purpose, you may be required to provide proof of the relationship.
Any transfer over $10,000 triggers a Currency Transaction Report (CTR) to FinCEN, but this doesn't mean you owe taxes — it's just for monitoring purposes. However, if the transfer represents income, a taxable gift, or a business transaction, you must report it when filing your taxes.
Technically speaking, you can give any amount of money you wish as a gift to one or more of your children or any other member of family. Some parents also choose to buy property and put it into their child's / children's name(s).
There is no limit on the amount of money you can receive as a gift in Canada. Regardless of the amount, cash gifts from family or friends are not taxable, and you don't have to report them to the Canada Revenue Agency (CRA).
As of 2025, you can give an adult child up to $19,000 in a year before you must file a gift tax return. If your adult child is married, you can also give up to $19,000 to their spouse.
It is the executor's job after a person dies to disclose all lifetime gifts to HMRC, particularly all those made in the last 7 years prior to death.
What do I need to know about tax when I make a gift? In reality, you can gift as much as you like to your children or grandchildren, but they might have to pay an unexpected tax charge if you don't think about this when making your plans. Inheritance tax (IHT) is the main tax to consider if you're giving away cash.