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Glossary   >   G   >   "Gift" Definition            Gift Property, money, or an asset that one person transfers to another while receiving nothing in return. A transfer of an asset such as property or money etc from one person to another where no payment of any kind is given by the receiving person to the donor. Transfers of this kind may be subject to inheritance tax if the value is above a certain amount and to capital gains tax in certain circumstances. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Gift \ Property, money, or an asset that one person transfers to another while receiving nothing in return.

A transfer of an asset such as property or money etc from one person to another where no payment of any kind is given by the receiving person to the donor. Transfers of this kind may be subject to inheritance tax if the value is above a certain amount and to capital gains tax in certain circumstances.