[GNC] Gift of stock

[Liz Dodd]

On Wed, 25 Jan 2023 10:34:51 +1100
flywire <flywire0 at gmail.com> wrote:

> I doubt your jurisdiction is that naive. I'd expect you'd pay tax on
> the $25k capital gain on disposal and your son would have a $30k
> basis price.


I agree, you gave your son the equivalent of $30K, and you get to pay
tax on the capital gain.
However if your jurisdiction sees it as your son paying the capital
gain, then you gave him $5K in your books.

Liz