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A gift or a present is an item given to someone without the expectation of payment or anything in return. An item is not a gift if that item is already owned by the one to whom it is given. Although gift-giving might involve an expectation of reciprocity, a gift is meant to be free. In many countries, the act of mutually exchanging money, goods, etc. may sustain social relations and contribute to social cohesion. Economists have elaborated the economics of gift-giving into the notion of a gift economy. By extension the term gift can refer to any item or act of service that makes the other happier or less sad, especially as a favor, including forgiveness and kindness. Gifts are also first and foremost presented on occasions such as birthdays and holidays.

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  1. J

    VIC Tenants in Common and Property Settlement - Property Included in Asset Pool?

    Hi, I believe that if gifts are received during marriage by a parent and they are intended for the blood relative,i.e. son or daughter, the spouse does not have a claim to this in a property settlement. My mother gifted a property to my brother and me in 2001. The property is in both our names...
  2. L

    NSW Gifts from Parent - Removing Mobile Phones from Children?

    Hello, are there any rules on removing mobile phones from kids that were gifts from their father?
  3. A

    Father Thinking of Rejecting Inheritance - Questions and Clarifications

    I am my mother's executor of will. She lived in QLD and died there recently. The will states, "I give the whole of my estate to ... (my husband), but if this gift fails then, the following distribution shall apply instead. "I give the whole of my estate to ...(all of her children equally)."...
  4. K

    Can Person in Bankruptcy Keep Jewellery Given as Gifts?

    Can someone in bankruptcy keep their wedding and engagement rings, and gold chains given to each other as wedding gifts?
  5. P

    VIC Property Settlement After Divorce - Is Ex Entitled More Money?

    I am in processing of getting a divorce and selling the house owned with ex. We were married for 10 years (together 16 in total) with no kids. The house was bought 3 years ago with a gift of 60,000 from his parents. $30,000 respectively for the deposit on a $400,000 house. Is he entitled to...
  6. M

    VIC How to Get Laptop Back from Sister-in-Law?

    Hi, I lent my sister-in-law a laptop a few months ago to assist her in her studies whilst her laptop was being returned. I have asked for it to be returned twice now, however she refuses to do so. She sates it was a gift, which it wasn't. How can I recover the laptop, and what is the process I...
  7. R

    NSW Separation - Husband Giving Me House as a Gift?

    My husband and I are going through a separation and he wants to give me the house. I am not on the title nor on the home loan, how does he go about "gifting" it to me and what are the costs involved, etc? I was going to reach out to a solicitor but found out it's going to cost me at least...
  8. S

    NSW Pay Tax on Gifts?

    Tax on Gifts: Say you have a friend, and they are rich. And they want to buy you a Ferrari ($300K) and $1million in cash transferred to your bank account, for your birthday eg 21st or 30th or 50th, or as a wedding gifts etc. Do you have to pay tax on Assets or cash that have high value if you...
  9. J

    VIC Money from Ex Boyfriend - Gift or Personal Loan?

    So when my now ex and I were together, he gifted me a large sum of money to pay off my debt so we could begin our lives together. Anyway things did not work out and I now have a restraining order on him so he has gone to a lawyer to order me to pay it back. He is saying we had an agreement that...
  10. R

    QLD Legal to Send Anonymous Gifts?

    I sent an gift to someone anonymously to just try and cheer them up , I didn't put my name because the person doesn't like me, but I just did it out of the goodness from my heart, now I'm wondering is it illegal and wat if they get angry and go to the police, this is the only time I have sent...