Giving money without paying tax

[NZGEMS]

We pay tax on stuff we gift to our beneficiaries from the trust (the trust pays it though) except the charitable trust of course there is no tax there. SO there is your answer, give it to charity and you wont pay tax on it. Make sure you do it through a charitable trust though as personally I think it is only about $3k each we can claim.

Wish someone was giving me $100's of thousands of $$$

I would make good use of it.

[cube]

Hawkins doesn't have to make the debt uncollectible, it just allows the loan repayment to require a very long notice period (e.g. 20 years).

So, perfectly collectable by Normal Legal Means, it just takes a while, and someone dies in the meantime......

My 2c based on the way my Wealth Trust was set up, but I KNOW NOTHING about this stuff.

cube

[Roninji]

Sounds interesting...
Although an outstanding loan of 100's of thousands of dollars may be frowned upon by a bank.
Which may make it harder to gain additional finance in the distant future.

[Julian]

With the gifting allowance I think you can gift the allowable amount at any time in a 12 month period so that would mean you could gift $27,000 one day (double for a married couple, of course) as the last day of a 12 month period you nominate, and gift another $27,000 the next day as the first day of the next 12 month period. Thereafter you could only gift $27,000 per year.
This doesn't help much if there's a suitcase full of hundred dollar bills, but it is a step in the right direction.
Don't try what some people have tried and that is gifting collectable coins at face value. This, I believe, has been tried ...and failed.
Julian